Sold on a 4.9% Yield in Surrey Hills

Over 80 inquiries were received throughout the Expression of Interest sale campaign of 1117 Riversdale Road, Surrey Hills. The property was sold by Dean Alexander and Stephen Gorman of Gorman Commercial for $860,000. Leased to two long term tenants, a Bakery and a Body Corporate office, the Commercial 1 zoned property with two street frontages returning a combined income of $42,145 p.a. sold on a 4.9% yield. Dean Alexander said, “Prospective purchasers were attracted to the property by the price point, its long term tenants and strong leases in place, dual street frontage, and the outstanding location.”