December 16, 2016

Marvellous Mentone

93 Balcombe Road, Mentone

SOLD AT AUCTION
Thursday 15th December at 12noon on site

A crowd of around 70 people witnessed our final auction of the year at 93 Balcombe Road, Mentone.  Spirited bidding between four bidders pushed the final price up to $1.405 million, well above expectations as demand for quality properties remains strong.  Located in the Mentone Activity Centre (ACZ2), the 186sqm of land with a building of 110sqm provides the flexibility as a shop for an owner occupier, an investment, or development site.

Senior Sales and leasing Executive, James Glen, explains, “We received many enquiries from owner occupiers and investors alike due to the many options the property provides.  These included owner occupiers looking for a well-located retail shop, investors wanting to lease out the shop to gain a solid yield, and developers planning to go up a level with an office or apartment.  This created substantial demand for 93 Balcombe Road, enabling us to achieve the high price.”

Sales and Leasing Executive, Julian Vautin, adds, “This was a great corner location close to Mentone train station and Woolworths, and with a large frontage for excellent signage opportunities.  With a shortage of quality properties and with interest rates at historic lows, continued demand strength is leading to solid prices in these bayside suburbs.”

For more information, contact: James Glen on 0401 493 277 or Julian Vautin on 0420 406 660.

NB: All areas and measurements are approximate. All prices are plus GST, unless otherwise stated.