Shop sells for $700,000

An Ettalong shop has sold at auction for $700,000 on Friday, November 5.

The auction for the premises occupied by Mediterranean Seafood had a total of four registered bidders with 24 bids.

The LJ Hooker auction was well attended with about 16 people in the room.

The owners were pleased with the price they received for the take away, having set a reserve at $700,000.

The tenant has the option to continue running the takeaway for an additional six to seven years.

The store was bought by Sydney business investors who have recently sold a takeaway in Booker Bay.

Kaitlin Watts, 3 Dec 2010 Interviewee: Brad Rogers