A pair of beachside retail strata properties in Victoria have achieved successful sales results after being marketed for auction. 

Situated in the coastal suburb of Sandringham, 62 and 70 Bay Road are both ground-floor retail properties that were scheduled to be auctioned from 12pm on Wednesday, November 13.

While 62 Bay Road sold under the hammer for $560,000 and a yield of about 6.07 per cent, 70 Bay Road was sold just prior to the auction date for $275,000, reflecting a yield of about 5.6 per cent.

At a glance:

• Two retail strata properties in Sandringham, Victoria have been sold through Gross Waddell in conjunction with Wilson Commercial.
•  62 Bay Road sold under the hammer for $560,000 and a yield of about 6.07 per cent, while 70 Bay Road was sold prior to the auction date for $275,000, reflecting a yield of about 5.6 per cent.
• Both properties are in the midst of three-year leases that commenced this year.

Comprising a site area of 83 square metres, 62 Bay Road is tenanted by Bayside City Council on a three-year lease that commenced in June with the option to extend.

The property at 70 Bay Road, which has a smaller site area of 22 square metres, is also under a three-year lease, with Cycus Landscape Design commencing its tenancy from February.

Selling agent Benjamin Klein of Gross Waddell said both vendors were "very happy" with the final result.

The properties were sold by Gross Waddell, in conjunction with Wilson Commercial.

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