A WELL-KNOWN bakery that has lived in Glen Waverley for more than 20 years had bidders putting their money where their mouth was, successfully selling under the hammer for $4,070,000, at 107 Kingsway
The asset, that came with a 132sqm * building area and 185sq m* site area, had been in the same family for over 30 years.
The property was marketed and sold by Ray White Commercial Glen Waverley Managing Director Ryan Trickey and Commercial Sales Agent Ben Ainsworth.
Mr Trickey said the marketing campaign saw strong activity and enquiry throughout, and that translated into strong bidding on auction day.
“We had six registered bidders battling it and it took a massive 49 bids to move the opening offer of $2,600,000 all the way up to the $4,070,000 sale price,” Mr Trickey said.
“The bidding eventually got down to $1,000 bids – with the knock-out bid being just $5,000 – this highlights the competitive forum that is an auction.