CENTRE ROAD FINDS GREAT FORM

258 Centre Road, Bentleigh – SOLD $1.31 million under the hammer

A friendly atmosphere amongst the crowd set the tone for the Auction of 258 Centre Road Bentleigh. Attended by locals and investors alike, three bidding parties participated. Accepting an opening bid of $1.2 million, Nichols Crowder auctioneer Matt Nichols was soon accepting further bids in $10,000 rises.

The two story shop & dwelling style property is used as an office and tenanted by Australian Survey Research Group.  With one year remaining on their five year lease, the well-presented property appealed to both investors and future owner occupiers.

According to selling agent Andrew Pannam, “From the moment the property was advertised we received strong enquiry with 42 parties requesting information.  It certainly reveals underlying confidence in local shopping strips and the adaptability of these properties to be utilised as either retail, office or shop/ dwelling combinations.”

Representing an annual return of 4.12%, the 234sqm property sold for $1,310,000 under the hammer.