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Serviced apartment investments popular with foreign buyers

Mar 23, 2017 - Australian Financial Review

An offshore investor has paid $15 million on a net yield of 4.7 per cent for a serviced apartment building at 85 Camberwell Road, Hawthorn in Melbourne. The building, with 18 apartments, retail shops and 22 car spaces on a 950sq m corner site, is fully leased to two tenants - Camberwell Serviced Apartments and Monolith International. It is returning a net annual rent of $705,356 and is a 4.5 star luxury accommodation. Savill's Julian Heatherich, Nick Peden and Benson Zhou who handled the express...