Williamstown retail site sells at $7 million
A prime retail site at 20-26 Ferguson Street, Williamstown has sold for $7 million under the hammer.
The 738 square metre corner property comprised seven titles offered as a whole, sold under the hammer on a 3.85% net yield. It included five shops and two dwellings/offices across a total building area of 761 square metres with a combined return of around $290,000 per annum, and a 28 metre frontage to Ferguson Street, three street frontages and rear parking.
The nearby retail site at 5, 7 & 9 Ferguson Street has also sold under the hammer for $4,225,000.
The three adjoining shops were offered in one line and sold for $300,000 above reserve, at a tight 3.4% yield.
Fitzroys also sold Shop 6, 73-83 Douglas Parade for $1.21 million under the hammer in recent weeks.
