Sold in front of a Huge Crowd

A double-storey brick shop converted into an office at 324 Auburn Road, Hawthorn and leased to two tenants sold at auction for $1,295,000 in front of 70 onlookers. The price reflects a yield of 3.9 per cent. “The amount of inquiry in this campaign demonstrates the strength of the sub-$5 million market with six bidders keen to secure the property”, Gorman Commercial’s Tom Maule and Alex Browne said.