Hammer falls on Hardware Lane auction
Published on: 21/03/2022
Auctions have returned to Melbourne’s CBD, along with a raft of local and offshore buyers keen to snare some freehold properties. Eight bidders competed for Henry George House, a three-level building at 27-31 Hardware Lane, pushing the price to $7.42 million and a yield of 3.46 per cent.
In other hospitality moves, the restaurant at the foot of South Yarra’s octagonal tower at 5 Commercial Road is on the market. The tower, once home to the notorious Saville Hotel, was transformed into apartments on The Block in 2016 and now goes by the moniker Blocktagon. The 133 square metre space, leased to Kai Dining, has a further 195 square metre outdoor dining area. It will feature as part of Burgess Rawson’s March 30 portfolio auction.
Nicole Lindsay, The Sydney Morning Herald