Gross Waddell ICR in conjunction with Australian Professionals Property Service is delighted to announce the successful sale of 173-177 Upper Heidelberg Road, Ivanhoe, with the sale price representing a yield of circa 3.7%.The property comprises a double storey mixed use improvement featuring 3 retail shops, all leased to a fashion retailer and 1st floor office, leased to an architectural firm. The improvements offer a building area of some 475sqm across both levels and feature rear carparking for about 10 cars accessed via a rear R.O.W. The property occupies a Commercial 1 (C1Z) landholding of approximately 540sqm over 2 titles.The property is located in the heart of Ivanhoe’s Upper Heidelberg Road retail strip which offers a range of amenities as well as both a Coles and Woolworths supermarket. The suburb boasts a current median house price of $2.1m (source: REIV), well known for its two private schools and located just 9km’s northeast of Melbourne’s CBD.Gross Waddell ICR director Andrew Greenway said “173-177 Upper Heidelberg Road, Ivanhoe sold after a competitive second round EOI process was conducted with 3 buyers competing for the property.”James Doherty, Associate with the purchaser Proxima Investment Fund said “We are not hesitant to purchase commercial properties on very low passing yields and have a strong appetite to take on properties that have short term leases, tenants in default or properties with vacant possession.”“The campaign generated excellent enquiry across the 4-week marketing program resulting in over 70 groups enquiring, with all buyer profiles showing interest” said Alex Ham director Gross Waddell ICR.”Previous ArticleNext Article
Gross Waddell ICR in conjunction with Australian Professionals Property Service is delighted to announce the successful sale of 173-177 Upper Heidelberg Road, Ivanhoe, with the sale price representing a yield of circa 3.7%.The property comprises a double storey mixed use improvement featuring 3 retail shops, all leased to a fashion retailer and 1st floor office, leased to an architectural firm. The improvements offer a building area of some 475sqm across both levels and feature rear carparking for about 10 cars accessed via a rear R.O.W. The property occupies a Commercial 1 (C1Z) landholding of approximately 540sqm over 2 titles.The property is located in the heart of Ivanhoe’s Upper Heidelberg Road retail strip which offers a range of amenities as well as both a Coles and Woolworths supermarket. The suburb boasts a current median house price of $2.1m (source: REIV), well known for its two private schools and located just 9km’s northeast of Melbourne’s CBD.Gross Waddell ICR director Andrew Greenway said “173-177 Upper Heidelberg Road, Ivanhoe sold after a competitive second round EOI process was conducted with 3 buyers competing for the property.”James Doherty, Associate with the purchaser Proxima Investment Fund said “We are not hesitant to purchase commercial properties on very low passing yields and have a strong appetite to take on properties that have short term leases, tenants in default or properties with vacant possession.”“The campaign generated excellent enquiry across the 4-week marketing program resulting in over 70 groups enquiring, with all buyer profiles showing interest” said Alex Ham director Gross Waddell ICR.”Previous ArticleNext Article
The property comprises a double storey mixed use improvement featuring 3 retail shops, all leased to a fashion retailer and 1st floor office, leased to an architectural firm. The improvements offer a building area of some 475sqm across both levels and feature rear carparking for about 10 cars accessed via a rear R.O.W. The property occupies a Commercial 1 (C1Z) landholding of approximately 540sqm over 2 titles.The property is located in the heart of Ivanhoe’s Upper Heidelberg Road retail strip which offers a range of amenities as well as both a Coles and Woolworths supermarket. The suburb boasts a current median house price of $2.1m (source: REIV), well known for its two private schools and located just 9km’s northeast of Melbourne’s CBD.Gross Waddell ICR director Andrew Greenway said “173-177 Upper Heidelberg Road, Ivanhoe sold after a competitive second round EOI process was conducted with 3 buyers competing for the property.”James Doherty, Associate with the purchaser Proxima Investment Fund said “We are not hesitant to purchase commercial properties on very low passing yields and have a strong appetite to take on properties that have short term leases, tenants in default or properties with vacant possession.”“The campaign generated excellent enquiry across the 4-week marketing program resulting in over 70 groups enquiring, with all buyer profiles showing interest” said Alex Ham director Gross Waddell ICR.”Previous ArticleNext Article
The property is located in the heart of Ivanhoe’s Upper Heidelberg Road retail strip which offers a range of amenities as well as both a Coles and Woolworths supermarket. The suburb boasts a current median house price of $2.1m (source: REIV), well known for its two private schools and located just 9km’s northeast of Melbourne’s CBD.Gross Waddell ICR director Andrew Greenway said “173-177 Upper Heidelberg Road, Ivanhoe sold after a competitive second round EOI process was conducted with 3 buyers competing for the property.”James Doherty, Associate with the purchaser Proxima Investment Fund said “We are not hesitant to purchase commercial properties on very low passing yields and have a strong appetite to take on properties that have short term leases, tenants in default or properties with vacant possession.”“The campaign generated excellent enquiry across the 4-week marketing program resulting in over 70 groups enquiring, with all buyer profiles showing interest” said Alex Ham director Gross Waddell ICR.”Previous ArticleNext Article
Gross Waddell ICR director Andrew Greenway said “173-177 Upper Heidelberg Road, Ivanhoe sold after a competitive second round EOI process was conducted with 3 buyers competing for the property.”James Doherty, Associate with the purchaser Proxima Investment Fund said “We are not hesitant to purchase commercial properties on very low passing yields and have a strong appetite to take on properties that have short term leases, tenants in default or properties with vacant possession.”“The campaign generated excellent enquiry across the 4-week marketing program resulting in over 70 groups enquiring, with all buyer profiles showing interest” said Alex Ham director Gross Waddell ICR.”Previous ArticleNext Article
James Doherty, Associate with the purchaser Proxima Investment Fund said “We are not hesitant to purchase commercial properties on very low passing yields and have a strong appetite to take on properties that have short term leases, tenants in default or properties with vacant possession.”“The campaign generated excellent enquiry across the 4-week marketing program resulting in over 70 groups enquiring, with all buyer profiles showing interest” said Alex Ham director Gross Waddell ICR.”Previous ArticleNext Article
“The campaign generated excellent enquiry across the 4-week marketing program resulting in over 70 groups enquiring, with all buyer profiles showing interest” said Alex Ham director Gross Waddell ICR.”Previous ArticleNext Article
