43-45 High Street, BERWICK
Jonathon McCormack and Andrew Waddell of Gross Waddell have sold at auction 43-45 High Street, Berwick for $3,225,000.
Located on the north side of High Street, adjoining Woolworths, Dan Murphy’s, National Australia Bank, Commonwealth Bank, Australia Post and many more national tenants, the property represented an outstanding and rare opportunity, provided with a secure cash flow from Bendigo Bank and Handprint Design representing a yield of 3.9%.
The property featured rear access with 8 onsite car spaces and opportunity for development in the future (STCA).
Jonathon McCormack of Gross Waddell, commented, “The prime retail asset provided the purchaser a secure investment in a prime suburban retail shopping strip. The campaign generated over 80 enquiries, resulting in a sale at a low yield, with multiple bidding at auction. The sale price achieved was well in excess of the Vendor’s expectations.”