Clayton South Warehouse/Office Sold at Auction for $3.5 Million
An industrial warehouse/office in the heart of the Clayton South industrial precinct in Melbourne’s south east has been sold at auction by Ray White Commercial Oakleigh for $3.5 million.
The property at 14-16 Meriton Place, Clayton South, was sold under the hammer to an owner-occupier food-based business by Joshua Colosimo and Ryan Amler of Ray White Commercial Oakleigh on behalf of a local owner.
Joshua Colosimo said there were five bidders at the onsite auction and a large crowd in attendance.
“There was keen interest in this complex in the heart of Clayton South’s industrial precinct which is on a land area of approximately 5,100 sqm and offers a total building area of approximately 2,327 sqm,” he said.
“The property is close to major arterials including the Monash Freeway (M1), Princes Highway and the newly developed Dingley Bypass.”
Ryan Amler said capital values in the industrial market in Melbourne’s south-east in the 12 months to March, 2017, have risen due to limited quality stock available, which has driven competition and urgency during a period of high demand.
“While investment demand is strong from individuals and groups looking to diversify, owner occupier demand has also been robust due to the active leasing market,” he said.
“The markets of Clayton, Oakleigh South and Oakleigh have shown significant improvement in the order of 15 per cent over the last year.”