Seaford

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A freehold seaside investment opportunity anchored by a fish and chip shop tenant with redevelopment upside at Seaford in Melbourne’s south-east has been sold at auction by Ray White Commercial Oakleigh.
The 110 sqm building at <a href="https://www.commercialrealestate.com.au/property/111-railway-parade-seaford-vic-3198-2013462910" target="_blank">111 Railway Parade, Seaford</a>, was sold under the hammer to a local investor for $552,500 by Ray White Commercial Oakleigh’s Ryan Amler on behalf of a private investor for a yield of 3.4 per cent.
Mr Amler said the property with approved plans and permits for a three-storey development comprising four, two bedroom apartments and one retail shop attracted more than 100 enquiries.
“We had tremendous interest in this investment opportunity with approvals in place for a mixed-use redevelopment,” he said.
“There were four bidders at the onsite auction and some keen bidding for the property achieved a sale price of $552,500.”
Mr Amler said the offering is in a growth corridor of south-east Melbourne and is approximately 500m from the beach.
“The property is on a land area of approximately 222 sqm and is within approximately 2km of both Seaford and Carrum train stations,” he said.
“This single level freehold building is currently leased as an established fish and chip shop of which the tenant has exercised their final three year term which will commence in June, 2017.
Rental is due to increase to $19,701 per annum.
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Seaside fish shop investment sold at auction

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A sought-after main road medical facility in Seaford, Victoria has just been sold for $2.3 million. 
The property at 270 Seaford Road, Seaford was sold by Daniel Philp and John Nockles from CVA property consultants within two weeks.
Receiving multiple enquiries from owner occupiers, investors and developers the property was ultimately sold to a medical operator who will utilise the existing improvements for their medical practice.
It comprising a single level building of 400sqm and positioned on a land holding of 2,082sqm.
The current improvements feature 9 consultation and 2 treatment rooms, dual access for patients and staff, numerous amenities and waiting rooms plus 31 car spaces.
The property is highly visible and accessible with a 46 metre frontage. 
It is situated within close proximity to major roadways including Mornington Peninsula Freeway, Frankston freeway and Nepean Highway.
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Seaford

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