Investors Show Confidence in the Commercial Market

Jonathon McCormack and Andrew Prowse of Gorman Commercial sold an outstanding two-level freehold with Advantage Pharmacy Elsternwick occupying the ground floor and additional income potential from a vacant first floor office / residence via a competitive online auction. Multiple bidders competed for the property which sold to a local investor for an undisclosed price on a yield circa 3%. “Investors are showing confidence in the commercial market with strong enquiry being received for blue-chip investment properties,” said Jonathon McCormack.