AN investor has purchased a versatile stand-alone shop/dwelling in the tightly held and highly sought-after Maling Road retail shopping village for $2.6 million.
The asset offered 434sq m* in combined land size and 218sq m* of building area and it was sold as vacant possession following a successful sale campaign.
The 108 Maling Road property in Canterbury was marketed and sold by Ray White Commercial Oakleigh Sales and Leasing Consultant George Kelepouris.
“The sale campaign was well received with four offers obtained, with this once again showing the growing appetite for quality retail investments,” Mr Kelepouris said.
“The asset is within a half-hour drive to the Melbourne CBD and is in one of Melbourne’s most gentrified suburbs, offering the flexibility to occupy and/or invest with the unique potential of multiple tenancies or to further develop – subject to council approval.
“The Maling Road retail strip is arguably one of the most tightly-held throughout Metropolitan Melbourne, with vacancy rates continuing to be extremely low year upon year.”