A professional services firm has taken the rare opportunity to acquire their own premises in the Camberwell’s Hartwell Junction.
Tom Fisher and Chris James of Fitzroys sold 1126 Toorak Road, Camberwell for $1.09 million.
The two-level shop and dwelling of 150sqm is on a 251sqm site with rear access and on-site parking. It is located within the Hartwell lifestyle and commercial precinct, metres from Leo’s Fresh Food & Wine, Betta Electrical, Camberwell Toyota and a number of established local eateries.
The purchaser will refurbish the building before moving in.
“Affordable freeholds in a suburb like Camberwell are very rare and we received interest from investors and owner-occupiers looking to take up that opportunity,” Fisher said, adding that the aged building offered huge potential through refurbishment or as a value-add play.
“Camberwell is home to one of Melbourne’s most established and affluent catchments, offering excellent prospects for investors and businesses alike. We received strong enquiry from investors and owner-occupiers, particularly professional services firms.”
“Interest rates remain at historic lows and many businesses are looking to take advantage of the environment and buy their own premises rather than rent, where they find it financially viable.”
James said inner suburban locations that are highly accessible and close to quality lifestyle amenity, such as Camberwell, are becoming increasingly popular for office tenants as flexible working arrangements become widely practiced.
