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Rare Affordable Camberwell Corner Freehold Attracts Investors And Owner-Occupiers

Posted on 16th March 2022

HERO 01

Investors and owner-occupiers have sought out a high-profile Camberwell corner retail property offered with vacant possession.

Fitzroys’ Chris James and Tom Fisher sold 387 Camberwell Road in the popular inner-east suburb for $845,000 on behalf of a private investor, Crawfords Group was the buyer of the 82sqm premises.

The corner site has a 28-metre frontage to Camberwell Road and Crescent Road, and is located within Camberwell Road’s retail and commercial precinct and close to the bustling Camberwell Junction.

“It’s rare that a sub-$1 million freehold becomes available in one of Melbourne’s most established and affluent catchments,” James said.

“Investors were very confident they could find a quality tenant for the property given its significant frontage.”

James said the building had been previously utilised as a café and the purchaser would lease out the property for a similar purpose given the fittings remained.

Fitzroys’ most recent Walk the Strip report detailed that hospitality tenants have dominated retail leasing activity over the past two years, with 50% of all deals currently being struck with food and beverage operators - well above the proportion of retail spaces traditionally accounted for by hospitality operators.