January 20, 2019

STRONG APPETITE FOR THE MORNINGTON PENINSULA

SOLD

48 High Street Hastings, 210 Main Street Mornington & 49 Mt Eliza Way Mt Eliza

Despite some uncertainty in residential markets over the final quarter of 2018, commercial and retail property along the Mornington Peninsula is proving to be popular with investors and owner occupiers alike.

Retail property in our key markets has been particularly resilient, with some excellent recent results:

  • 48 High Street, Hastings – leased to a butcher, this 109sqm shop on land of 223sqm sold at auction for $610,000 on a yield of 5.2%
  • 210 Main Street, Mornington – 210sqm vacant shop on land of 323sqm, in a great location, sold via tender for $1.58 million
  • 49 Mount Eliza Way, Mount Eliza – 79sqm shop leased to a takeaway food business, sold at auction for $920,000 on a yield of 5.2%

For more information, don’t hesitate to contact our sales and leasing team at Carrum Downs on 9775 1535, or Mornington Peninsula on 5925 6005.