FOUR in-one-line industrial investments have smashed their reserve by $99,000 at auction, selling for $1,324,000 at 1-4/22 Graham Road, Clayton South.
The asset, that came with a 1,745sq m* land area and 751sq m* building area, was in one of Clayton South’s most highly sought-after and tightly held industrial precincts.
The in-one-line property was marketed and sold by Ray White Commercial Oakleigh Senior Commercial/Industrial Sales and Leasing Consultant George Kelepouris.
Mr Kelepouris said it was an active campaign throughout with a number of enquiries coming from investors, neighbours and developers.
“The Clayton South market is performing exceptionally well right now so it’s no surprise we had more than 25 enquiries during the campaign,” Mr Kelepouris said.
“All four assets are Industrial 1 Zone (IN1Z) and they all had new three-year leases that commenced in March of this year, so that offered buyers certainty on occupation.
“Five bidders were battling it out, as it took a huge 32 bids to climb from the starting bid of $900,000, all the way up to the eventual sale price of $1,324,000.
“Not only does it produce a combined annual rental of $91,200 p.a. + GST + outgoings, but it also offers future flexibility with the exciting prospect of future development, subject to council approval.”