Hallam Warehouse Investment Sold
A warehouse/office investment opportunity at Hallam in Melbourne’s south-east has been sold at auction by Ray White Commercial Oakleigh.
The tenanted approximately 500 sqm facility at 11/35-41 Westpool Drive, Hallam, was sold under the hammer to a local investor for $610,000 by Paul Rizzo and Joshua Colosimo of Ray White Commercial Oakleigh on behalf of a private seller for a yield of 5.5 per cent.
“There was a great turnout for the onsite auction at an industrial estate at Hallam,” Paul Rizzo said.
“We had four active bidders with a local investor securing the asset for $610,000.”
Joshua Colosimo said the property, which includes a telecommunications tower, is currently returning net rental of $34,800 per annum.
“This is a modern facility with a motorised roller shutter door access to the warehouse and onsite parking for five cars,” he said.