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21 Glen Eira Road, RIPPONLEA

Tamara Gross and Benjamin Klein from Gross Waddell have sold 21 Glen Eira Road Ripponlea at auction. The property was hotly contested by 5 bidders and selling for $1,350,000 to a local investor. The sale price represents a yield of 3.1%.

This two level building of 102 square metres* is ideally located on the northern side of Glen Eira Road between Ripponlea Train Station and Hotham Street within the highly sought after Ripponlea Village. Glen Eira Road prides itself on its unique character and eclectic retail offerings. The strip has become a haven to a variety of popular food retailers, cafes, pharmacies and giftware shops.

The property is leased to a Coin Laundrette for $42,000 pa net plus GST.

Tamara Gross commented “we had very strong interest throughout the campaign, Glen Eira Road, Ripponlea is fast emerging as one of Melbourne’s most eclectic and fashionable strips”.