The large showroom leased to Remarkable Furniture at 244-248 Chesterville Road, Moorabbin has just been sold to a passive local investor on a solid yield of 5.5%.

The 4,732sqm building, which is set on land of around 5,048sqm, is currently leased for $358,750 per annum, with lease options until 2044. Adding to the attractiveness of the investment is its proximity to the new Morris Moor redevelopment of the old Philip Morris site on the corner of Cochranes Road.

The property was marketed and sold by James Glen, David Garfield and Matt Nichols via an expression of interest campaign, which generated more than 50 enquiries, and many requests for contracts.

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