Clayton South demand continues with warehouse auction sale

THE demand for industrial and commercial properties in Clayton South has continued as a warehouse/office sold under the hammer for $615,000 at 20 Prestige Drive.

The asset, that came with a 303sq m* total building area and included 182sq m* of bonus mezzanine level space, was sold as vacant possession to a local owner-occupier.

The property was marketed and sold by Ray White Commercial Oakleigh Sales/Leasing and Operations Manager Ryan Amler.

Mr Amler said Clayton South’s popularity continued to increase with a large number of local owner-occupiers looking to get into the Melbourne suburb.

“We’ve had a number of sales in Clayton South in recent times and the fact we had five competing bidders for this property highlights the area’s popularity,” Mr Amler said.

“Bidding started at $540,000 and it took another 18 bids to reach the final sale price of $615,000, a good $35,000 over the reserve price.

“Interestingly, the same property sold around 18 months ago for $570,000, so the near-eight per cent growth in a short space of time reflects the strength in this particular market.

“Most of the interest in the property was self-generated from past campaign enquiries and owners in the area looking to take advantage of the Clayton South buzz.

“The modern industrial property offers street frontage to nine on-site car parks and provides the convenience of being just off the ever-busy Clayton Road and within direct proximity to major arterial roads including Princes Highway and the recently developed Dingley Bypass.

“Public transport is in abundance in the area, with Clayton train station approximately 1km* from the asset, offering a direct link into Melbourne CBD’s Flinders Street Station.”

*Approximately.