Moorabbin Investment Sold at Auction for 4.7% Yield
A warehouse/office investment opportunity in the heart of Moorabbin in Melbourne’s south-east has been sold at auction by Ray White Commercial Oakleigh.
The approximately 248 sqm building at 6/94-102 Keys Road, Moorabbin, was sold under the hammer to a local investor for $559,000 by Ray White Commercial Oakleigh’s Ryan Amler on behalf of a private investor for a yield of 4.7 per cent.
Ryan Amler said there were five bidders at the on-site auction and keen competition for the asset.
“There was very strong interest in this modern industrial investment, located in a well-established and maintained business park in the heart of the Moorabbin industrial precinct,” he said.
“The property has been leased to JGC Components for the past three years and is returning net rental of approximately $26,599 per annum.”
Ryan Amler said the warehouse features container height roller door access and the property has an approximately 37 sqm mezzanine office.
“The property is ideally located near major arterials roads,” he said