Buyers Attracted to Sub-Million Dollar Price Point

Located in busy  Macedon Plaza anchored by Woolworths and BWS, this 54 sqm shop occupied by Subway since 2012 returning $36,050 pa net on a 5-year lease sold on a very sharp yield of 4.1% for $865,000 to a local investor via a private sale campaign. On the market for only 10 days, Shop 11, 325 Manningham Road, Templestowe Lower received strong enquiry from over 50 groups. Dean Alexander of Gorman Commercial said, “Buyers were attracted to both the sub-million dollar price point as well as the strong lease covenant from Subway.”