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Mont Albert's commercial values jump 35% over 15 months

Property Markets / Outlook

Australia

Mar 21 2017

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Simon Johanson, The Sydney Morning Herald

MARKET WRAP

SALES

Mont Albert North

A local investor has reaped a 35 per cent increase on two shops bought 15 months ago. The identical shops at 2A and 2B Milne Road transacted for $800,000 in late 2015 and sold again last week for $1.08 million, Stephen Speck from Gorman Commercial said. "The increased demand from owner-occupiers triggered the significant jump in value," he said.

Frankston

Two investors buried the opposition, purchasing a pair of Allison Monkhouse Funeral Homes in Frankston and Mornington. One at 362-364 Nepean Highway sold for $3.7 million to an owner-occupier. The other at 102 Strachans Road in Mornington on a land area of 2357sq m was snapped up by a developer for $2.8 million, Daniel Philip, John Nockles and Ian Angelico from CVA said.

Go to The Sydney Morning Herald and read the full story.

SOURCE: The Sydney Morning Herald

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