Owner occupiers have snapped up two Clifton Hill properties, for a total of $4.5 million, within an hour of each other at lively and well attended auctions.

According to Savills Australia CBD & Metropolitan sales team, Julian Heatherich, Nick Peden, and Jesse Radisich, the sale of the properties at 3 Hilton Street and 10 Reeves Street, reflected the increasing demand for Clifton Hill property.

“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.

“The local area which includes Brunswick, Lygon and Smith streets and Queens Parade has also been very popular with both residential and commercial users over several decades with property values appreciating accordingly,” Mr Heatherich said.

The properties comprise 3 Hilton Street - a 205 square metre office/warehouse with roller door access – which sold for $900,000, and 10 Reeves Street - a modern 884 square metre showroom/warehouse on an 1,175 square metre site – which sold for $3.6 million.

Mr Peden said the sales enticed a wide range of end users and buyers, attracted to the underlying value of the city fringe location and its abundance of retail and lifestyle amenities.

“With Melbourne growing at such a rapid rate, these properties offered potential purchasers rare opportunities to secure a highly desirable inner city asset,” he said.