ADJACENT BULKY GOODS SHOWROOMS PROVE A HIT AT AUCTION

Two showrooms in Melbourne's west sold at Auction on rental yields of more than 6 per cent on adjacent blocks at 76-82 Maroondah Highway, Ringwood. One was a single-level showroom leased to Supercheap Auto, which sold for $2.85 million, reflecting a 7.5 per cent yield. The other, a former World of Furniture showroom, sold for $1.285 million, which was a rate of $4,350 per square metre. The properties are part of a seven-building complex leased to established bulky goods retailers including Baby Bunting.