Sold After being Held by the Same Owners for 38 Years
Gorman Commercial’s Tom Maule and Jonathon McCormack sold 143A Whitehorse Road, Blackburn under the hammer to a private investor for $1,540,000 on a building rate of $4,150 psm and land rate of $3,950 psm. The building was offered with vacant possession and had been held by the owner for 38 years. “Good quality buildings, even if vacant, are being sought-after as investors are happy to take on the leasing risk for these type of assets. The auction was well attended and had 4 bidders selling in excess of the vendor’s reserve”, commented Tom Maule.