Clayton Industrial Investment Sold at Auction for $3,690,000
A standalone warehouse/office industrial investment opportunity with redevelopment upside (STCA) at Clayton in Melbourne’s south-east has been sold at auction by Ray White Commercial Oakleigh for $3,690,000.
The offering of two tenanted buildings at 28-32 Buckland Street, Clayton, was sold under the hammer to a Sydney investor for an above reserve price by Paul Rizzo and Joshua Colosimo of Ray White Commercial Oakleigh on behalf of a private seller for a yield of 4.9 per cent.
Paul Rizzo said there was a large attendance at the onsite auction with strong competition for the facility, which is on one title with a land area of approximately 4,578 sqm.
“We had some intense bidding for this industrial asset with the auction finishing with a battle between a local Melbourne investor and a Sydney buyer,” he said.
“The interstate visitor came out on top with the final sale price $390,000 above our vendor’s reserve.”
Joshua Colosimo said the combined building area of approximately 3,260 sqm is generating gross rental of $182,884 per annum.
“Building one is approximately 2,440 sqm and is leased to Maze Distribution Pty Ltd on a four-year term with a four-year option which commenced in June, 2014,” he said.
“The other building area is approximately 820 sqm and is leased to Royal Marbles & Granite Pty Ltd on a five-year term with a five-year option which commenced in April, 2013.”