Investors Chase Yields

Acting on behalf of long term management clients, Dean Alexander and Stephen Gorman of Gorman Commercial sold 108 Middleborough Road Blackburn South prior to auction. The high profile retail property located on Middleborough Road in close proximity to the new Burwood Brickworks Shopping Centre sold for $1,120,000 which represents a very sharp yield of 3.7% on a passing rental of $41,440 pa plus GST and outgoings. Dean Alexander of Gorman Commercial said, “The sale represents the strength of the retail investment market despite the lockdown with investors chasing yields better than bank returns.”