Industrial office and warehouse spaces are being snapped up in Melbourne, with demand outweighing supply.
A 120 sqm space located at 38/22 Dunn Crescent, Dandenong, was sold for $343,500 at online auction – $63,500 above reserve.
Ray White Commercial Oakleigh agent Ryan Amler said the property received a lot of interest prior to auction, with more than 80 enquiries and 22 inspections and seven registered bidders on the day.
The successful buyer was an owner occupier working in the car sales industry who bought the property site unseen.
“It’s a low maintenance property and the access to major arterials is great,” Mr Amler said.
“The property is in great condition.”
Mr Amler said there was a strong demand for similar properties.
“The market has been exceptionally buoyant,” he said.
“There is strong demand and little supply.
“I still have several under bidders seeking similar properties but not able to find anything.”
Head of department – Ray White Commercial Oakleigh
0401 971 622
Media advisor – Ray White Group
0447 000 472