Strength in the Commercial Property Market

Another successful sale was achieved on the street with Gorman Commercial’s auction of 1A Somerset Street, Richmond. The well-presented vacant two-level commercial building sold to an owner occupier for $1,425,000 on a building rate of $6,400 psm. Tom Maule and Jonathon McCormack handled the sale and commented, “Vacant commercial properties with flexible lay out are popular with owner occupiers.”