trophy corner retail investment in prahran sells under the hammer

trophy corner retail investment in prahran sells under the hammer


May 2022
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Trophy Corner Retail Investment in Prahran Sells Under the Hammer

SOLD - 4B & 4C Izett Street, PRAHRAN

Gross Waddell ICR is pleased to announce the sale of 4B & 4C Izett Street, Prahran.

A crowd of circa 50 people attended last Thursday’s auction and saw 2 bidders compete for the property which sold for $2.2 million, representing a yield of 3.97%.

The key features of this high exposure corner retail investment include:

  • Leased to the long-established Prahran icon Babble Bar & Café
  • New 5 + 5 year lease
  • Rental $87,500 p.a. net* as at 1st May 2022
  • Unique building of 115 sqm* - Building rate: $19,130 psm*
  • Total landholding of 200 sqm* - Land rate: $11,000 psm*
  • 6 on-site car spaces
  • Located within the heart of Prahran’s major retail and restaurant precinct and only metres from the vibrant Greville and Chapel Streets

* approx.

Alex Ham commented, “the auction campaign generated significant enquiry seeing the property being purchased by the tenant Babble Bar & Café, a Prahran institution having traded since 1992”.

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