Camberwell retail property sells for $6 million through Savills

Camberwell retail property sells for $6 million through Savills
Staff ReporterOct 17, 2017

A fully leased retail building within the Burke Road retail precinct in Melbourne’s Camberwell has recently sold for $6,008,000 through Savills.

The property at 596 Burke Road has been completely refurbished.

It has two retail shops totalling 275 sqm on one title.

It is leased to T2, a wholly owned subsidiary of Unilever Ltd, and Montebello Emporium.

The property has a landholding of 273 sqm with two street frontages.

It earns a current net rental of $307,087 per annum. The yield is estimated at around 5.1 percent.

The selling agents were Nick Peden, Jesse Radisich and Benson Zhou of Savills.

Camberwell retail property sells for $6 million through Savills