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Clayton South Investment Sold for $1.2 Million

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.

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