April 19, 2017

SOLD AT AUCTION: 1392 Malvern Road, Glen Iris

SOLD AT AUCTION
1392 Malvern Road, Glen Iris
Thursday 6th April at 12noon on site

A classic two-storey shop and residence at 1392 Malvern Road, Glen Iris sold under the hammer for $1.49 million.  Around 30 people attended the auction, which came down to two main bidders that made a total of 25 bids for the property that had been held in the same family for 65 years.  The property was sold with vacant possession.

Senior Sales and Leasing Executive, James Glen marketed the property and said that the owner was very happy with the result.  Glen stated that, “The property is in a fantastic shopping strip, close to several transport options, and offers development potential for the new owner (STCA).  This is a tightly-held area, and properties of this quality and this much potential rarely come on the market.”

The property of approximately 151sqm is located on a site of around 232sqm, and offers great flexibility.  With many original features, the retail shop could be extended and the first floor could be converted into an office (STCA). 

For further information, contact James Glen 0401 493 277 or Matt Nichols 0418 186 488.