Dandenong warehouse smashes reserve at auction
A STREET frontage warehouse with vacant possession has smashed its reserve price at auction by $73,000 – having sold for…
Pakenham Retail Investment Sold
A newly leased retail investment at Pakenham in Melbourne’s inner south-east has been sold at auction by Ray White Commercial Oakleigh.
The 135 sqm tenancy at 5/58 Racecourse Road, Pakenham, was sold for $605,000 to a local investor by George Kelepouris of Ray White Commercial Oakleigh on behalf of a local owner for a yield of 5.2 per cent.
George Kelepouris said the entry level retail investment opportunity had only recently been secured with a new five-year lease.
“The property is returning net rental of $31,714 per annum and investors could enjoy the comfort and security of the brand new five-year lease,” he said.
“We received more than 25 enquiries for this property and three bidders at the onsite auction where the retail investment sold under the hammer.”
George Kelepouris said the property is in a growth corridor and enjoys easy access to arterial routes.
A STREET frontage warehouse with vacant possession has smashed its reserve price at auction by $73,000 – having sold for…
A LOCAL investor has purchased an industrial warehouse in the heart of MAB Corporation’s Translink Business Park for $575,000 at 13/37…