5th May, 2021
Gross Waddell ICR, in conjunction with Barry Plant Commercial were pleased to offer a single storey retail shop at 531 Malvern Road, Hawksburn up for sale.
Positioned in a prime location, the retail investment lies within the popular Malvern Road retail precinct, featuring exclusive retailers such as Woolworths, Peter Bouchier, Stocked Food store and Bistro Thierry.
Selling under vacant possession, the commercial asset has a land size of 227m2* and a floor size of 89m2. Receiving much foot-traffic each day, the property also contains rear lane access along with onsite parking.
As a crowd of more than 120 investors and locals attended the auction, it was clear the trendy retail site had sparked much interest. The bidding opened at $1.8 million and saw competition arise from 9 bidders. As bids came in left, right and centre the retail site was declared on the market and soon after sold for $3.166 million - 25% above the reserve price.
Congratulations to Barry Plant & Gross Waddell ICR on a fabulous sale!
* = Approximately
