My Melbourne Real Estate

CHAPEL Street’s historic Conways Building sold at auction on Thursday for $12.8 million. On a 1000 square metre site, the 2372 square metre Prahran building is configured as four ground floor retail shops, and ten upper floor commercial studios. On a fully let basis, the property could rent for $775,000 per annum, meaning the asset sold on a 6 per cent market yield. [...]