The Causeway, Melbourne strata offerings sell
Two strata property on Melbourne’s pedestrian thoroughfare, The Causeway have been sold.
They were sold "under very competitive conditions," according to Fitzroys agent Charles Emmett.
Shop 5, a 45 square metre retail premises leased to Gordon’s Café (pictured below left), sold for $1.51 million, some $460,000 above reserve.
Returning $67,700 per annum net, the sale price reflected a yield of 4.48%.
The partially fitted Basement (pictured above right), with an area of 204 square metres approx and without “retail access”, sold for $675,000 plus GST.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
