Sat 20/05/23 – Final Oviss commercial property sold

The final commercial property held by late investor Harry Oviss sold last week.

The double fronted Ashburton shop at 190-192 High Street fetched $2.565 million – reflecting a 3.85 per cent return – at auction.

With the disposal, the Oviss family has banked over $90m from 60 retail investments offered in tranches since 2021.

“It’s been an absolute pleasure to be involved in the sale of this portfolio and to represent the estate of Harry Oviss,” Gross Waddell ICR’s Michael Gross said.

“Harry was a true visionary in retail real estate with a proven formula of securing retail shops in high performing or emerging neighbourhood areas,” according to the executive (story continues below).

The Oviss portfolio included shops in Canterbury (top left), Croydon (top right) and Bentleigh.

Recent interest rate rises don’t appear to have dampened demand for this kind of product, Mr Ham added.

“The [Ashburton] property attracted strong interest from investors both locally and internationally…demand for high quality retail assets remains strong” he said.