Published 5 August 2011
Bob Dey Report
Bayleys Real Estate sold another Mt Eden building at a firm yield yesterday after achieving a 7.4% yield last week on the sale of the Tram Stop building. This one is near the Mt Eden railway station & Boston Rd.
Mt Eden, 99 Mt Eden Rd, 250m2 2-level villa with a mix of commercial & residential tenancies on 574m2; the ground floor is occupied by a longstanding legal tenant & Bay Audiology and there are 2 separate 2-bedroom residential tenancies on the first floor, plus a 30m2 cottage leased to an artist & 5 parking spaces at the rear of the site on land that has potential for redevelopment; sold for $1.2 million post-auction at a 6.2% yield (Clint Barber & Rachael Pittaway).