Investors Actively Search for Freestanding Properties with Strong Yields

Multiple bidders contested for the freehold shops at 51 & 51A Main Road, Monbulk during this week’s online auctions. The long term leases to secure tenants, the Salvos and Cellarbrations, and high performing yields proved a win for Melbourne investors. Both properties were fiercely contested and sold under the hammer at auction run by Gorman Commercial’s Dean Alexander and Burgess Rawson’s Shaun Venable and Beau Coulter.  51 Main Road sold for $1,768,000 on a 4.96% yield and 51A Main Road, Monbulk sold for $1,165,000 on a 4.4% yield. Dean Alexander commented, “Investors are actively searching for freestanding properties with strong yields during the pandemic.”