A local investor has snapped up a Moorabin industrial complex for $4,775,000 at auction, almost $800,000 above reserve.
Located at 1-12, 18-20 Roberna Street, the 2630sqm site comprises 12 industrial units.
The property was marketed by Ray White Commercial Oakleigh agent Ryan Amler on behalf of the seller, a local investor who had owned the property for 43 years.
“This property attracted a lot of attention from local investors, with over 160 enquiries prior to auction, and eight registered bidders on auction day,” Mr Amler said.
“A trophy asset, the site provided a rare opportunity to own 12 units in one line.
“It also presented good add value opportunities.”
Mr Amler said the industrial market in Melbourne remained “very strong”.
“Industrial seems to be very buoyant,” Mr Amler said.
“Fellow Ray White Oakleigh agent Theo Karkanis sold a small industrial unit at auction recently for $150,000 over reserve, and George Kelepouris sold 34/266 Osborne Avenue, Clayton South, under the hammer for $75,000 over reserve.
“This is 3/3 this week with 100 per cent clearance so far this year, a sign of strong competition for industrial assets.”