Savills : Owner-Occupiers in Fourth Clifton Hill Buy

Another State Government property at Clifton Hill has sold to an owner-occupier, the fourth such sale, all to owner-occupiers, in the last three months.

According to Savills Australia's Mark Stafford who negotiated the deal with Julian Heatherich and Nick Peden, the 50-52 Alexandra Parade property sold privately for $860,000 at the healthy land area rate of $4,300 a square metre.

'This is the fourth property we have sold to an owner-occupier in the last few months underlining just how strong the current owner-occupier market is,' Mr Stafford said.

He said the purchaser had plans to use the property as office space.

The property comprises a single level, 177 square metre warehouse, on a 200 square metre site, with on-site parking and rear laneway access. It was sold with vacant possession.

Three other Clifton Hill properties at 3 Hilton Street, 10 Reeves Street, and 44 Alexandra Parade sold to owner-occupiers in March following highly anticipated marketing campaigns:

• Hilton Street - a 205 square metre office/warehouse - sold for $900,000
• Reeves Street - a modern 884 square metre showroom/warehouse on an 1,175 square metre site - sold for $3.6 million
• 44 Alexandra Parade - a 140 square metre corner freehold - sold for $910,000

'The market for inner-city property has rarely been stronger and Clifton Hill is now clearly on the radar as it offers very close proximity to the CBD, the Eastern Freeway, and trams and train services,' Mr Heatherich said.

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