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Quieter start to 2018 Commercial market

Commercial

Miles Team

Autumn

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The commercial market has experienced a cautious start to 2018 with few results to indicate an accurate representation.

With a slow release of auctions in February and March, coupled with an early Easter, many vendors have opted to begin their commercial campaigns in early April.

69-73 Chifley Drive, Preston

Positive retail results in late 2017 included a shop and dwelling in Aberdeen Road, Macleod achieving $860,000 (3.9% yield) and retail premises at 181 Upper Heidelberg Road, Ivanhoe achieving $1,950,000 (3.3% yield).

We are auctioning a substantial industrial investment on Chifley Drive, Preston on 19 April, which currently returns $135,000 plus GST from four separate tenancies.

A vacant retail shop at 76 Silverdale Road, Eaglemont is scheduled for auction on 28 April at 11am. The 215m2 Commercial 1 zoned site is being sold with vacant possession.


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