Clayton South warehouse smashes reserve at auction

A warehouse/office in the sought-after Melbourne suburb of Clayton South has sold well over reserve for $459,500 under the hammer at 17/266 Osbourne Avenue.

The asset, that came with a total 245sq m* building area and included 55sq m* of first floor office and amenities, was offered to the market with vacant possession in a secure estate with no GST applicable on the purchase.

The property was marketed and sold by Ray White Commercial Oakleigh Sales/Leasing Consultants Theo Karkanis and Paul Rizzo.

Mr Karkanis said it was an active campaign throughout, with owner-occupiers and investors alike showing real interest in the location and the asset’s facilities.

“We had 44 enquiries, 13 inspections and 15 contract requests, highlighting the fact that potential buyers appreciated the opportunity that was on offer,” he said.

“There was a real buzz at the auction with 35 attendees and five active bidders battling it out for the property.

“The asset went on the market at $400,000, but the bidding continued until the final sale price of $459,500 was achieved for the vendor.”

Mr Rizzo said the property was one of over 100 in the estate and it was purchased by an owner-occupier.

“This functional warehouse/office is in the heart of the Clayton South industrial precinct and included first floor office and amenities, plus a further mezzanine/storage area,” he said.

“It also came with a container height roller door, three-phase power, disabled toilet, shower and a kitchenette.

“The asset is zoned Industrial 1 Zone (IN1Z), and is located in a securely gated estate with four car spaces on the title.”

*Approximately.