Toorak Retail/Office Investment Sold
A tenanted retail/office investment opportunity at Toorak in Melbourne’s inner south-east has been sold by Ray White Commercial Oakleigh for $760,000.
The approximately 110 sqm ground floor tenancy at 7/521 Toorak Road, Toorak, was sold to a local investor by Ray White Commercial Oakleigh’s Paul Rizzo on behalf of a private owner for a yield of 5.6 per cent.
Paul Rizzo said the property is leased to a quality tenant and is returning net rental income of approximately $43,264 per annum.
“This was a fantastic opportunity for an astute investor,” Mr Rizzo said.
“This tenancy is located in Toorak Place, a signature development, and is offering excellent returns.”