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With growing reports of declining foot traffic in local stores and businesses since the onset of the COVID-19 pandemic, the increased demand for e-commerce services has been met by National Commercial Bank Jamaica Limited’s ‘e-commerce in a box s
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.
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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
Strata shop sells $60,000 above reserve
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Carnegie
An investor paid $60,000 above reserve to outbid several rivals for control of a strata-titled shop in
Jonathan Hallinanâs development at 274 A, B, & C in Neerim Road. The property was knocked down for nearly $2.56 million, or $6642 per sq m, Teska Carsonâs
George Takis said. The result reflects a strengthening market for strip retail despite COVID-related issues, he said. Sold with vacant possession, the 392 sq m ground-floor shop covers three titles and is part of a 5-level residential development.
Landmark St Kilda holding for sale as renaissance beckons
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Longtime Fitzroy Street landlord Freddie Warschauer is selling up properties his family has held on the strip for decades and could reap more than $16 million from the deal.
Mr Warschauer is offloading three properties at 7-15 Fitzroy Street, the gateway corner between the Esplanade and the once thriving hospitality strip.
Three buildings at 7-15 Fitzroy Street in St Kilda are for sale.
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Allard and Shelton agents Joseph Walton and Michael Ryan are handling inquiries for the extensive holdings, which include 14 apartments and five shops on 1335 square metres of land.