Off-shore buyers are looking for safe property harbour
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There are suggestions international buyers could be returning to the city, encouraged by the success of Victoriaâs handling of the COVID-19 pandemic.
Down at the Victoria Market end of the CBD, a double-storey shop at 469 Elizabeth Street changed hands for $5.2 million.
469 Elizabeth attracted 11 offers and sold on a 3 per cent yield.
Credit:
Records show the property, leased to Sarawak Kitchen, was previously owned by Malaysian-based billionaire Loh Kiam Chong who sold it in 2016 for $2.9 million to a local investor.
It flipped again over the summer to a Chinese buyer. Tiga Commercial agents David Sia, Martin Leong and Nicholas Hii handled the transaction which attracted 11 offers and sold on a 3 per cent yield.