Browse all categories | Subscribe My Account | Logout
Browse all categories
< Back

Maribyrnong riverfront restaurant sells for $2.15m

Property Markets / Transactions


Aug 09 2017

Add to Favorites

Share this Article:

Simon Johanson, The Sydney Morning Herald




The ground-floor river frontage retail property at Shop G23, 55 Cumberland Drive sold for $2.15 million before auction to an overseas investor on a 5.4 per cent yield.  Fitzroys' Chris Kombi and Adam Lester said the property was leased to restaurant and function centre Riviera on a 6x6x6-year deal returning about $116,000 per annum.

Fitzroy North

A converted 11-metre frontage warehouses at 1 Bik Lane was sold to an investor for $985,000 by Gray Johnson's Rory White on a yield of 3.3 per cent, equal to $7500 a square metre of building area. The property is leased on 3+3 basis, with a current passing rental income of $32,240 net. There is a second, larger tenanted warehouse still available for sale on the site.

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

SOURCE: The Sydney Morning Herald


You may also like...

Load More


Login into your MP Report account

Forgot my password

Sign up to the MP Report

Creating an account with MP Report allows you to save articles and update your preferences to filter the content based on your interests and what content you would like to receive from us via our email alerts and newsletter.