Ballarat Seafoods occupy a prominent position within the well established Eastwood Street Shopping Centre which comprises a mixture of major supermarkets and small food and specialty shops. The property was recommended to be put to auction due to the secure 5 year lease term and strong interest in commercial investment properties in Ballart. Marketing was focussed on The Ballarat Courier together with internet listings on realcommercial.com.au, raywhitecommercial.com and juwai.com plus various other commercial websites. The property was also exposed to Ray Whites extensive commercial database. On the day 3 bidders competed for the property to achieve an excellent result for the owner who had held the property for more the 20 years.

Sales Analysis*
Method of Sale:Auction on site
Marketing Time Frame:4 weeks
Sale Date:30 October 2015
Enquiries:15
Bidders:3
Number of Bids:8
Starting Bid:$250,000
Sale Price:$295,000
Passing Yield:6.85% net

 

*approx