Strata Shop Sold for More than 30% Over Reserve

Several bidders had their eyes on a strata shop leased to Sandton Hair Gallery at 541B Whitehorse Road, Mitcham before it sold under the hammer for $770,000, more than 30 per cent above the reserve. “A sharp yield of 4.2 per cent shows the strong demand on busy retail strips in the eastern suburbs,” Gorman Commercial’s Alex Browne and Andrew Prowse said.