News & Insights
Sold at auction for $1.775 million
November 1, 2019
1233 Point Nepean Road, Rosebud
Sold at auction
Friday, November 1, 2019
Quality commercial investments remain popular along the Mornington Peninsula, as shown with the recent sale of 1233 Point Nepean Road, Rosebud.
On a very hot November afternoon, the property was sold at auction to a local investor for $1.775 million. This represents a yield of 4.7%.
The property has been occupied by Peninsula Foot Clinic for the past 21 years, with the tenant recently signing a new 5x5x5 year lease from July 2019.
Set on land of approximately 873sqm, the building of 240sqm comprises five medical consulting rooms, reception area and staff facilities. There are also 10 car spaces on site.
“With record low interest rates expected over the foreseeable future, we are seeing a lot of interest in commercial investments that are leased to quality tenants, such as this one” explains Jamie Stuart, Sales and Leasing Executive.