A FREMANTLE retail property, located on the corner of Queen and Cantonment Streets, achieved the highest retail property price for Fremantle this year and was one of the highest retail sales for the past few years.
The 1,280 sqm property was sold at auction for $2.7 million and, according to Colliers International, was well in excess of expectations and the reserve price. The sale price represents a yield of 5.9 per cent.
Colliers International commercial and industrial sales executive Reece Cocks said the sale underlined the strong demand for investment property in Fremantle.
The property is fully leased to tenants including Medibank Private, Home Building Society and United Credit and is located alongside the Chain Reaction building.