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Empty shops not deterring investors

Property Markets / Planning, Zoning, Infrastructure

Australia

May 17 2017

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Simon Johanson, The Sydney Morning Herald

MARKET WRAP

SALES

Carlton

Empty shops are not deterring investors. A vacant 48 sq m retail space, one of six shops on the ground level of 142 Rathdowne Street, has sold for $475,000, Fitzroys Terence Yeh said.  

Camberwell

Two adjoining shops at 968 and 970 Toorak Road were sold for $795,000 and $800,000 respectively by Gorman Commercial's Stephen Speck and Alex Browne. The firm's director Stephen Gorman said investors were valuing bricks and mortar yields – purchased on yields around 3 per cent – as better than bank deposits because of the potential for capital growth.

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

SOURCE: The Sydney Morning Herald

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