A suburban shopping strip at Forrest Hill sold under the hammer at Colliers International’s commercial auction today.
The shopping strip had been held by the same family for 40 years.
Forrest Hill, 14-18 Raines Avenue:
Features: 751m² suburban shopping strip on 2266m² site on 3 titles zoned business 1, with surplus development land, owned by one family for 40 years
Rent: $162,354/year from 10 tenants at an average $223/m²
Outcome: sold for $3.075 million at a 5.28% yield