- The 275sqm building is located on a Commercial 1 zoned 597sqm site
- The sale attracted over 100 enquiries prior to the auction
- Investors seeking secured-leased commercial property, says agents from Fitzroys
Here is an auction for a type of property you don’t see very often.
The Camberwell home of Ambulance Victoria, at 612-616 Camberwell Road, was recently sold at auction for $3.6 million – $700,000 above the reserve – to a private investor.
The 275sqm purpose-built facility is single-storey and located on a Commercial 1 zoned 597sqm site. The site has 126.5 metres frontage to the road with the building itself featuring open-plan offices and amenities.
Fitzroy’s Chris James and David Bourke, along with Patrick O’Callaghan of O&Co, facilitated the auction sale, which drew over 100 enquiries, including from both local and offshore interests.
“This property presented perhaps the safest investment in the current environment. Ambulance Victoria is a top-line essential services provider and offers a COVID-proof income stream.”
Mr Bourke also added that the pandemic has resulted in investors focusing their energy on acquiring more secured-leased investments – a trend that he expects to continue into 2021.
“The depth of enquiry again showed there is a large volume of capital waiting to be deployed, after few high-quality, well-located properties were offered for sale over the past 12 months.”
Fitzroy recently sold a nearby retail strip asset at 751-753 Burke Road, Camberwell for $7.55 million, which also attracted over 1000 enquiries from both local and offshore interests.
