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Retail Shop Sold in Ivanhoe

Another smnall shop in an older-style strata development in Ivanhoe also exceeded its reserve, in this case by nearly $200,000.

Stephen Speck, of Gorman Commercial, said the 76-square-metre strata shop oat 97 Upper Heidelberg Road opposite a Woolworths was knocked down under the hammer after aggressive bidding from six buyers

It was leased to a fashion outlet with a new three-year lease in place and it sold on a tihgt 3.9% yield for $1.15 million.

Published in The Age, 16 March 2016
by Simon Johanson