Auction to Feature Four Commercial Properties

Four Shepparton commercial properties will go under the hammer at the same auction in Melbourne next week. The lots include an 8,547sqm development site on Wyndham Street just north of the McDonald’s. Agent Shaun Venables from Burgess Rawson said the vacant land had unlimited options for development including retail, childcare or medical.

“There is plenty of interest, it is difficult to get hold of land that size on the northbound side of the highway in the middle of Shepparton,” he said.

The other properties for sale include the Kialla Veterinary Clinic on Melbourne Road and the Shepparton Veterinary Clinic on Wanganui Road. Both businesses will continue to operate on the sites, which are being sold with long tenancies in place. The new 7-Eleven outlet on Numurkah Road is also going under the hammer. It is being sold with a 14-year lease through to 2036 plus two further seven-year options to 2050. Mr Venables said the commercial market across regional Victoria had remained strong through the pandemic, and yields were comparable to bigger markets. “There are a lot of buyers from Melbourne and Sydney looking to invest in the regions,” he said.

The auction will take place at Crown Casino on Wednesday, May 11.