An Amazing and once again a steller result from the team at CBRE last month when one of the “right side of the road” assets we talked about in our article in May last year sold prior to auction for a figure of 17,115,000,. This equates to a yield of 2.57 per cent and setting a record for an asset of this type.
Located at 1389-1391 Centre Road, Clayton and on the west side of the Clayton Road strip the property started out with a price guide of sub $10 million. This asset is subject to long term lease earns an net income of around $440,552 per annum.
The Coles Clayton, occupying a 2883-square-metre site, had been held in the same family for 23 years. Domain records show the property was purchased in 1995 for $3.15 million.
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