Investor pays $1.432M for two in-one-line Springvale assets
A SINGLE investor has purchased two in-one-line stand-alone two-storey retail buildings that were side-by-side for $1,432,000 at 207 and 209 Springvale…
Port Melbourne Office/Warehouse Sold for $1,462,500
A modern office/warehouse in a prestigious industrial estate in the inner bayside Melbourne suburb of Port Melbourne has been sold by Ray White Commercial Oakleigh for $1,462,500.
The tenanted approximately 360 sqm facility at B1/8 Rogers Street, Port Melbourne, was sold to an owner-occupier by Paul Rizzo and Joshua Colosimo of Ray White Commercial Oakleigh on behalf of a private seller for a yield of 5.2 per cent.
Paul Rizzo said the property was initially taken to auction and passed-in on the day for $1.4 million.
“We continued negotiations with interested parties for this property and have now achieved a sale price of $1,472,500 which was $12,500 above the vendor’s reserve,” he said.
“The buyer will owner-occupy the warehouse facility when the tenant’s lease expires at the end of the year. The property is currently leased for gross rental of $75,790 per annum.”
Joshua Colosimo said the property comprises an approximately 210 sqm warehouse and a 150 sqm office with kitchen and staff amenities plus parking for eight cars.
“This was an immaculate property which was ideally located a mere 3.5km from the Melbourne CBD,” he said.
A SINGLE investor has purchased two in-one-line stand-alone two-storey retail buildings that were side-by-side for $1,432,000 at 207 and 209 Springvale…
A FREEHOLD commercial retail investment with long-term tenancies has smashed its reserve price by $101,000 at auction as 709 Centre Road in…