Bulleen Retail Investment Sold
A tenanted retail investment at Bulleen in Melbourne’s north-east has been sold by Ray White Commercial for $730,000.
The 108 sqm retail at 188 Bulleen Road, Bulleen, was sold to a local investor by Brett Diston of Ray White Commercial Victoria on behalf of a private owner for a yield of 3.8 per cent.
Brett Diston said there was keen interest in the investment opportunity, which is returning net rental income of approximately $27,951 per annum on a long term lease.
“This freehold property is leased by a Thai restaurant which is on a 3 + 3 + 3 year lease with 3.0 per cent annual rent increases in place,” he said.
“The property is on a land area of approximately 175 sqm and also offers development potential (STCA).”
In the dynamic and ever-evolving world of real estate investment, one key decision can make all the difference in the success of an investor’s portfolio: the choice of their management team.
A retail development site in the heart of Perth’s CBD has sold for $48 million. The 1,705sqm site at 96 and 110 William Street, and 255 Murray Street Mall was marketed by RWC WA agent Brett Wilkins.