Auctions are Back on the Street

A well-presented two-storey freehold leased to Melbourne Pool & Spa at 91 Burwood Road, Hawthorn sold in Gorman Commercial’s first street auction with the easing of Melbourne’s sixth lockdown restrictions. Tom Maule and Jonathon McCormack conducted the auction with multiple bidders selling to a local investor for $1,575,000 on a 4% yield and building rate of $6,128 psm. Tom Maule commented, “The exceptional position within the shopping strip and long-term lease proved popular with investors.”