04 Sep 2019

The Age Business: Wednesday 4 September 2019

Northcote

An investor trumped three rivals with a final bid of $1 million for a shop at Northcote Plaza. Teska Carson's Fergus Evans and Adrian Boutsakis said four bidders participated in a lively auction, with shop 30 quickly reaching the vendor's reserve and selling on a tight 4.7 per cent yield, below the average yield for the centre. The 98 sq m store is leased to Plaza Deli on a three-year term at $47,336 per annum with 4 per cent annual rent increases.