Oakleigh South Site Sold at Auction

Oakleigh South Site Sold at Auction

A standalone mixed use commercial property with main road exposure and redevelopment potential (STCA) at Oakleigh South in Melbourne’s south-east has been sold by Ray White Commercial Oakleigh

The property at 676 Warrigal Road, Oakleigh South, was sold under the hammer for $641,000 at the on-site auction to a local owner-occupier by Paul Rizzo of Ray White Commercial Oakleigh on behalf of a local investor.

“We had a good crowd but due to the cold weather we conducted the auction inside the premises,” Paul Rizzo said.

“There were three main bidders and the successful purchaser happens to be local developer.”

The two level approximately 187 sqm building includes an approximately 60 sqm retail/office area on the ground floor with a three-bedroom residence upstairs.

“This rare standalone property with commercial 1 Zoning on a land area of approximately 259 sqm offers the opportunity to renovate, occupy, develop or invest,” Paul Rizzo said.

“There are also signage rights on this outstanding commercial property.”