Not Enough Owner Occupier Offerings to Satisfy the Market at Present
Gorman Commercial’s Stephen Gorman, Andrew Prowse and Nathan May sold a vacant medical centre at 1 Ellsa Street, Balwyn North for $2,910,000 through a 5-week expression of interest campaign. Strong interest was received in the property with over ninety registered enquirers, thirty-one individual inspections, resulting in seven offers to purchase being lodged; all from medical owner occupiers looking to future proof their business. The property sold to a medical owner occupier based in East Melbourne on a building rate of $9,900 psm. “We were astounded by the depth of genuine interest over the campaign, there’s simply not enough owner occupier offerings to satisfy the market at present,” said Andrew Prowse.