Shops 13 & 15 / 90 Main Street, Mornington
A double retail shop at 13 & 15/90 Main Street, Mornington has been sold for $965,000 on a yield of 4.8%. Located in a popular arcade, the two shops of 88sqm are on a single title and provide an opportunity to subdivide (STCA). Both shops are leased to quality tenants, and are close to several national retailers, including Coles, Target, and Liquorland.
Sales Executive, Jamie Stuart, says, “The campaign generated huge interest from local and Melbourne-based investors. The Mornington Peninsula is fast becoming one of the most in-demand investment regions, due to steady population growth and the calibre of national tenants looking to expand down this way.”
Tanya Scagliarini, Sales Executive, added, “We’re seeing limited stock in this area at the moment, while the buyer pool continues to grow. This supply and demand imbalance is leading to solid pricing growth, and opportunities for buyers and sellers to realign their portfolios.”