Sound Investment

A strata titled retail shop at 81 Main Street, Croydon has sold at auction for $981,000 to a local investor.  The buyer who had been searching for a retail investment for some time had difficulty finding properties with quality tenants and long leases for less than a million dollars in areas closer to his residence in Richmond and therefore started searching in the outer suburbs.  Strips such as Main Street, Croydon have seen a recent resurgence in demand from tenants and boast low vacancy.  The property was leased to National Hearing Care who currently has almost 200 locations around Australia.   Stephen Speck, Associate Director, from Gorman Commercial marketed the property with over 80 genuine enquires.