Clayton Retail Site Sold for $1.58 Million
A retail property with main road exposure at Clayton in Melbourne’s south-east has been sold by Ray White Commercial Oakleigh for $1.58 million.
The property at 1899-1901 Dandenong Rd, Clayton, was sold to a local owner-occupier by Paul Rizzo of Ray White Commercial Oakleigh on behalf of a local investor.
“This property was passed in at auction but we sold it a few weeks later to a local business operator,” Paul Rizzo said.
“Although the property came with plans and permits for a mixed use redevelopment, the new owners will be using the building for a bakery as opposed to developing.”
Paul Rizzo said the approximately 215 sqm building on a land area of 418 sqm is in the heart of Clayton.
“The property boasts unrivalled main road exposure to Dandenong Road and is close to Monash University, Monash Hospital and the prestigious Chadstone Shopping Centre,” he said.
“This was the first time the property had been on the market for 25 years.”