Clayton South Investment Sold for $1.2 Million
A tenanted investment opportunity at Clayton South in Melbourne’s south-east has been sold at auction by Ray White Commercial Oakleigh for $1.2 million.
The commercial complex at 24 Graham Road, Clayton South, was sold to a private superannuation trust by George Kelepouris of Ray White Commercial Oakleigh on behalf of a local businessman for a yield of approximately 9.5 per cent.
George Kelepouris said there was keen interest in the complex, which is on a land area of approximately 1841 sqm and offered a combined rental income of $114,400 per annum.
“This was an ideal investment opportunity with the property having an established tenant,” he said.
“The in-room auction attracted three bidders and there was keen biding before the property sold under the hammer to the private superannuation fund.”
George Kelepouris said the approximately 1220 sqm warehouse/office building is positioned in a tightly held precinct.
“The tenant is on a five year lease which commenced in October, 2013, and there are options for three further terms of five years,” he said.