Sold to a Local Investor on a Sharp 3.9% Yield

A two-level retail  building at 245 Melville Road, Brunswick West operating as a beauty salon returning $34,000 pa plus gst and outgoings sold to a local investor for $870,000 showing a sharp yield of 3.9%. Dean Alexander of Gorman Commercial said the 220 sqm two-level building located in the boutique retail strip near the intersection of Moreland Road said, “The property was well received from the market with over 60 enquiries during the short marketing period.”