Seaside Cafe Investment Sold at Auction
A retail/residential investment opportunity anchored by a busy café tenant at Seaford on Melbourne’s south-eastern seaside has been sold at auction by Ray White Commercial Oakleigh.
The property at 37 Armstrongs Road, Seaford, was sold under the hammer for $550,000 to a local investor by Ray White Commercial Oakleigh’s Ryan Amler on behalf of a private investor for a yield of 4.8 per cent.
Ryan Amler said the approximately 188 sqm property with the ground level ‘Bear & Cub’ café and a separately leased two-bedroom residence on the first floor offered a combined rental of approximately $26,874 per annum.
“There were five bidders at the onsite auction and some keen bidding for the property achieved a sale price of $550,000,” he said.
Ryan Amler said the recently leased residence has its own access and street frontage at the rear of the property.
“The offering was ideally located in a popular south-eastern growth corridor and is approximately 700m from the beach,” he said.
In the heart of Parramatta’s thriving business district, an exceptional freehold building is being offered for sale via expressions of interest by RWC Western Sydney’s Joseph Assaf, Victor Sheu and Andrew Sacco.
In the heart of Parramatta’s thriving business district, an exceptional freehold building is being offered for sale via expressions of interest by RWC Western Sydney’s Joseph Assaf, Victor Sheu and Andrew Sacco.