Moorabbin Retail Unit Sold at Auction
A ground floor retail shop with development upside at Moorabbin in Melbourne’s south-east has been sold at auction by Ray White Commercial Oakleigh.
The property with a monthly tenant at 6/8 Station Street, Moorabbin, was sold to a developer/investor by Ray White Commercial Oakleigh’s Ryan Amler for $430,000 on behalf of a private owner.
Ryan Amler said the property attracted more than 40 enquiries and there were three registered bidders at the on-site auction.
“We had some highly competitive bidding at the auction and it was pleasing to see the property being sold under the hammer,” he said.
Ryan Amler said the approximately 55.92 sqm building was offered for sale along with approved plans and permits to add two one bedroom studio apartments above the retail area.
“The property came with approved town planning and endorsed plans for two apartments of approximately 39.44 sqm on level one and approximately 81.29 sqm over two levels in addition to the ground floor retail space,” he said.
“The property is centrally located near Moorabbin railway station.”