A local investor has purchased a modern retail freehold on Sorrento’s main street at 141-147 Ocean Beach Road, Sorrento VIC for $4.85 million on a 1.57% yield by Benson Zhou and Julian Heatherich of Savills Australia.

Sitting on a prime 992sq m* land parcel with 17.5m* frontage to the famed Ocean Beach Road retail strip, the modern retail freehold of 250sq m* is split across 2 tenancies.

The deal was negotiated by Benson Zhou and Julian Heatherich of Savills Australia who said the local investor is looking to add-value to the property and capitalise on the future growth and upside potential of Sorrento.

“Despite a hit to the tourism trade in Sorrento with covid restrictions and statewide lockdowns, the sentiment for property within the Mornington Peninsula and namely Sorrento remains high” Mr Zhou said.

To request a sales analysis please email either of the selling agents via the below contact details.