Burke Road shop sells for $1m above reserve
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Camberwell
Investors are betting bold on a shopping strip recovery. One paid $1 million above the reserve for a prime shop at 580 Burke Road with a final $6.788 million auction bid. Fitzroys’
Chris Kombi and
Chris James said the shop, leased long term to Country Road’s Witchery, commanded a sharp 3.8 per cent yield.
A strata-titled, 130 sq m two-storey shop at 193 Clarendon Street sold for $1,022,000.
Credit:
Collingwood
It took just 27 bids for a two-storey converted office at 126 Rupert Street to sell for $2.46 million in an auction overseen by Gross Waddell ICR’s