Bayswater

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A new office/showroom/warehouse in Bayswater has been sold for $4.5 million. 
It represents a sharp yield of 5.68% and building sale rate of $2,200 per square metre.
Stan Dawidowski and Ian Angelico of CVA held the listing. 
The property comprises a floor area of 2,038 sqm, quality construction, main road profile, and finishes throughout including a passenger lift and 30 onsite car spaces. 
Set on a 3,202 sqm land holding, it was sold subject to a 5+5-year lease to a local company, with rental of $256,000 per annum.
The property is positioned opposite Mitre 10 Bayswater, between Scoresby Road &amp; Mountain Highway and about 1 km to the Bayswater Train Station.
“The firming of yields and sale rates coupled with the increase in enquiry are evidenced through CVA transactions over the past two months and there is a clearly defined level of confidence in the commercial market,”  says Angelico. 
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Brand new Bayswater commercial building sold for $4.5 million

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A Bayswater retail property could revisit its banking roots, after being sold under the hammer to a local community bank franchise. 
Originally constructed as a banking chamber in 1975, the 83 Whatley Crescent property was purchased by Bayswater Community Financial Services Limited.
It was bought at auction for $1.06 million. 
Located directly opposite Bayswater Train Station, the property comprises a 335sqm building most recently occupied by an Elders Real Estate office.  
CBRE’s Michael Milne and Ben Younger managed the sale. 
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Banking on Bayswater with $1.06 million WA auction aquisition

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A 3,321 sqm Bayswater holding containing a five bedroom, three bathroom cottage has been listed for sale, with redevelopment potential
The <a href="https://www.realestate.com.au/property-house-vic-bayswater-128217446" target="_blank">6 Highmore Avenue</a> (pictured above), Bayswater offering is in store for a sale that could beat out the previous record price by almost $1 million.
The previous record set at <a href="https://www.realestate.com.au/property/639-mountain-hwy-bayswater-vic-3153" target="_blank">639 Mountain Highway</a> was sold for $3.45 million in 2015, and is now a development site, the Lucea Gardens townhouse project.
The current offering has been listed by Andy Shi and Hank Guo from Buxton.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/23/BAYWATER%202.jpg" alt="">
Nestled on a 3,321 sqm allotment, the cottage comes with seven bedrooms, living/dining domain, modern kitchen/meals area, and family room.
Other features include a pool and tennis court.
It is the parcel of land set to reap the benefits of a likely redevelopment into a four level apartment complex (including basement), retail/commercial project, medical centre or childcare/aged care facility (STCA).
It is within walking distance to Bayswater Central shops, buses and train station.
The suburb's median house price sits on $813,000, according to CoreLogic.
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