Clayton South Investment Opportunity Sold
A tenanted investment opportunity at Clayton South in Melbourne’s south-east has been sold by Ray White Commercial Oakleigh.
The modern industrial property at 173/248-266 Osborne Avenue, Clayton South, was sold post auction to a private superannuation fund for $600,000 by George Kelepouris of Ray White Commercial Oakleigh on behalf of a local owner for a yield of 6.3 per cent.
George Kelepouris said the factory complex located in Grange Industrial Park has two separate tenants in place.
“This was an ideal investment opportunity with a tenanted property in a quality location,” he said.
“The two tenancies offer a lettable area of approximately 354 sqm and the property is returning rental income of approximately $38,000 per annum.
“We had four bidders at the on-site auction and a deal was done post-auction.”
George Kelepouris said the factory complex offered excellent warehouse height and was handy to transport links.
“The Grange Industrial Park has after hours security access and is close to major arterials including East Link, Peninsula Link and the Monash Freeway/Citylink,” he said.