Dulux Outlet on Doncaster Hill Sells for $400,000 Over Reserve
Auto mogul, Nick Theodossi has been busy over summer trading investments on the Doncaster Hill. Mr Theodossi sold the Dulux site at 565 Doncaster Road for $5.3 million. It sold $400,000 over reserve at auction. The Dulux outlet pays $228,000 a year net for the 955 sqm property on a lease that runs to 2024.
The Dulux deal represented a 4.3% yield and a $5,549 per square metre land rate.