A LOCAL investor has snapped up a corner industrial investment in Clayton South after just two weeks on the market for $850,000 at 120 Fairbank Road.
The property, that came with a 630sq m* building size and a 778sq m* land area, benefited from being in the heart of Clayton South’s industrial precinct.
The asset was marketed and sold by Ray White Commercial Oakleigh Sales/Leasing and Operations Manager Ryan Amler and Sales/Leasing Consultant George Kelepouris.
“To sell an industrial property like this unconditionally inside two weeks is a great achievement in any market – it certainly flies in the face of all the negative speculation,” Mr Amler said.
“We had 25 enquiries in that short amount of time and the $850,000 sale represented a yield of 5.4 per cent – all parties are very happy with the quick and successful outcome.
“It was the perfect investment that ticked all the boxes and buyers loved the fact it’s in one of the south-east’s most highly sought-after and tightly-held industrial locations.”
“The property is leased to Wilson & Yan Industrial Engineering Pty Ltd – since 2015 – and comes with three terms of four years each,” Mr Kelepouris said.
“The asset benefits from a corner and prominent position and 10 on-site car spaces with the current rent providing $46,000 p.a. plus GST – the tenant also pays all outgoings.
“It’s also just off the ever-busy Clayton Road and within direct proximity to major arterial roads including Princes Highway and the recently developed Dingley Bypass.”