Healthy Appetite for Circa $1 Million Investments

Gorman Commercial’s Nathan May and Stephen Gorman sold a strata titled office of 153 sqm approx. at Suite G06, 12-14 Cato Street, Hawthorn East for $1,060,000 to a local investor via a private sale campaign. The sale reflected a strong 5% yield for a strata title office with a building rate of $6,928 p/sqm. The building has been well-managed over its lifetime and continues to remain well-occupied with a healthy mix of owner occupiers and tenants. Nathan May commented, “There remains a healthy appetite amongst local investors in strata units especially around the $1 million price range. The new Lease and nature of the covenant assisted the strong result.”