SHOWROOM DEAL
Posted on 27 May 2010
A Melbourne based buyer has paid $1.68 million at auction for a showroom in Mitcham, in the city's east, which is leased to ASX-listed Crane Group Limited. The property at 656-660 Whitehorse Road has a 780 square metre showroom warehouse with 12 car spaces. Crane Group holds a five year lease expiring in June 2013, and the sale price reflected a 6.7 per cent yield. Vinci Carbone Property director Joseph Carbone said there were six bidders and 40 enquiries during the campaign