Smith Street, Fitzroy premises sold by Norman Beisher Foundation

Smith Street, Fitzroy premises sold by Norman Beisher Foundation
Staff reporterSeptember 11, 2018

The Norman Beisher Medical Research Foundation, which funds clinically based research into the health of women and babies, has sold its Smith Street, Fitzroy corner retail holding.

The 83-87 Smith Street offering attracted six bidders competed for the offering which annual income of $148,426.

It is leased to bag maker Crumpler Design (above and below), Japanese restaurant Neko Neko, the Burnside Cafe and the Greenwood Loft wine bar.

It fetched $5.1 million which was $1.6 million over reserve on a yield of 2.8%.

The result equated to a land rate of $23,406 a square metre and a building rate of $12,599 a square metre.

The buyer was an Asian family.

The Norman Beisher Medical Research Foundation paid $455,000 in 1993.

Editor's Picks

First look: Immerse Projects plan new apartments at Kirra Beach
City Beat March 2025: Olympics announcement to drive further growth in Brisbane property market
BVN and FJC Studio’s architectural vision for Sydney House
PIPIS penthouses turn heads in Bilinga
City Beat March 2025: Gold Coast unit market continue to grow, but gains slow