A Moorabbin industrial warehouse has sold under the hammer for $4.16 million.
Located at 14-16 Roberna Street, the premises boasts a total building area of 1,754sqm and sits on a land size of 2,629sqm.
Brought to market by Ray White Commercial Oakleigh agent Ryan Amler, the property received an abundance of interest, with just under 100 enquiries prior to auction.
The property recorded seven registered bidders and four active bidders on auction day, with the winning bid going to a local investor.
‘Offered for sale for the first time in 14 years, I sold the property to the vendors in 2009 for $1.305 million,” Mr Amler said.
“They decided to list with me as I had sold the property to them over a decade ago, and I recently sold the 12 units next door in February.
“The property is located in the tightly held and sought after Moorabbin industrial precinct, and has a brand new three-year lease to long term tenants P.J.M Industrial, who have occupied the premises since 2018.”
Mr Amler said he had noticed the Melbourne industrial market slowing down.
“We are seeing less buyers active in the industrial market,” he said.
“These buyers are also showing a sense of caution and seeking higher returns on assets that don’t have short to medium term upside or value add potential.
“It has never been more important for a seller to seek an agent that has the experience and intricate knowledge of market conditions.
“This can be the difference between a good result and a great result.”