March 17, 2016

Portfolio Auction Results

PORTFOLIO AUCTION
Wednesday 16 March commencing 11am
Held at the Nichols Crowder and Nixon Industrial offices.

A large crowd of 50 gathered at the Nichols Crowder Moorabbin and Nixon Industrial offices to witness the first Portfolio Auction of 2016. On offer were five great properties suitable for owner occupiers, investors and developers. Of the five properties, two successfully sold.

Suite 44 / 296 Bay Road, Cheltenham, an office investment situated on the top floor in a landmark building with the added benefit of a private balcony, sold for $175,000 to a local investor. 

According to Nichols Crowder Managing Director, Matt Nichols, ‘It is great to be able to provide the opportunity for investors to enter the commercial property market, receive a healthy return, and be part of the Bayside Business District.”

The final auction of the day was however the highlight.  

54 East Concourse, Beaumaris, a shop with excellent development potential, received high levels of enquiry throughout the marketing campaign which was reflected on the day.  Initially two key bidders were vying for the property.  They were then joined by two additional bidders which provided a great show for the audience.  After the auctioneer took a total of 138 bids, the property sold for $1,236,000 to the delight of the Vendors and well above their expectations.

 

Matt Nichols
Managing Director
0418 186 488