25 Sep 2019

The Age Business: Wednesday 25 September 2019

Six parties offered more than 80 bids before the auctioneer's hammer fell at $1.641 million, more than $400,000 over the reserve, for a shop at 81A willsmere Road. Teska Carson's Jack Kelliher, who managed the sale with Michael Ludski's said the shop drew more than 120 inquiries and sold on a sharp 2 per cent yield. "The property was sold for the first time in more than 40 years," he said. It had a five-year lease to Kew Friendly Supermarket, currently returning $42,841 per annum net.