Two commercial properties in inner Melbourne sold through Savills
Two properties in Melbourne’s inner suburb of Clifton Hill have sold for a total of $4.5 million in deals brokered by Savills.
According to Savills Australia CBD & Metropolitan sales team, Julian Heatherich, Nick Peden, and Jesse Radisich, the sales reflected the increasing demand for inner city locations such as Clifton Hill, according to the selling agents.
The properties comprise 3 Hilton Street - a 205 square metre, office/warehouse with roller door access – which sold for $900,000, and 10 Reeves Street - an 884 square metre showroom/warehouse on an 1,175 square metre site – which sold for $3.6 million.
"The market for inner-city property has rarely been stronger and Clifton Hill is now clearly on the radar as it offers very close proximity to the CBD, the Eastern Freeway, and trams and train services," said Heatherich.
"The local area which includes Brunswick, Lygon and Smith streets and Queens Parade has also been very popular with both residential and commercial users over several decades with property values appreciating accordingly.’’
