Clayton industrial investment sells for 3.9 per cent yield

A stand-alone industrial building leased to a single tenant has sold for $930,000, well before the auction date of 17 May 2019, at 11-15 Bendix Road in Clayton.

The asset, that had a 1,372sq m* land area and $265sq m* in total combined building area, was zoned Industrial 1 Zone and came with an established tenant returning $36,500 p.a net.

The property was marketed and sold by Ray White Commercial Oakleigh Senior Commercial/Industrial Sales and Leasing Consultant George Kelepouris.

Mr Kelepouris said there were three interested parties happy to present offers to the vendor before the auction took place.

“The vendors accepted the final sale figure of $930,000 that represented a yield of 3.9 per cent or land value of $677psqm.” he said.

“Two of three of the vendors reside in Canada and were surprised with the significant strength in the industrial market in the Clayton area and were happy to sell the property before auction.

“The building was sold to a local builder, who loved the flexibility of the factory currently being leased, and the future development prospect being his objective going forward.

“The property offered an opportunity to acquire prime industrial land with development potential, subject to council approval, that’s currently offering short-term income until July 2019.

“This was also a great opportunity for owner occupiers to secure a fantastic site with additional land area, ideal for trades, builders and more.”

*Approximately.