Tenanted Food Factory Investment Sold
A fully-equipped food factory investment opportunity at Dandenong in Melbourne’s south-east has been sold by Ray White Commercial for a 7.2 per cent yield.
The property leased to Z & W Group (Aust) Pty Ltd at 1/23 Egan Road, Dandenong, was sold for $550,000 to a private investor by Ray White Commercial Oakleigh’s Ryan Amler and Joshua Colosimo on behalf of a private owner.
Ryan Amler said the tenant commenced a three-year lease with a further three-year option in May, 2016, and the property returns net rental of $39,600 per annum.
“Other agents had struggled to lease or sell this particular property but we found a tenant and have now sold it as an investment,” he said.
Joshua Colosimo said the property has a building area of approximately 310 sqm and is equipped with freezers, a cool room and other plant and equipment valued at more than $250,000.
“This is a fully equipped food factory that enjoys easy access to major arterials including EastLink and the Princes Highway,” he said.
“Located in the growing suburb of Dandenong, this was an ideal opportunity for a smart investor to secure a quality investment property.”