Bid frenzy sees Clayton office/warehouse sell for $500,000

HANDS were being raised furiously as a total of 26 bids saw a Clayton office/warehouse sell under the hammer on site at Unit 21, 1866 Dandenong Road, for $500,000.

With a 219sq m* total building area, the vacant property provided a balance of warehouse and office space, with three car parks on the title that included two undercover.

The property was marketed and sold by Ray White Commercial Oakleigh Sales and Leasing Consultants Joshua Colosimo and Paul Rizzo.

Mr Colosimo said because the business park was so tightly-held, the sale figure reflected a return of $2,500/psqm, a record price for the estate.

“There was a genuine buzz around the auction with a crowd of 40 people turning up, and the asset eventually sold to a local investor, who will look to lease the property out,” he said.

“The opening bid started at $350,000, and with competition for the site so strong, it was 25 bids later when it eventually sold for $500,000.”

Mr Rizzo said the potential buyers understood the office/warehouse was in a prime location in one of Clayton’s most tightly-held and highly-sought after business parks.

“The property included a first floor office area of 80sq m* and had ample amenities including ground and first-floor toilets and shower,” he said.

“It also came with a container-height motorized roller door, three-phase power, alarm system, split system heating/cooling and had kitchenette facilities on both the ground and first floor.”

*Approximately.