Tenanted Warehouse Investment Sold
A tenanted industrial investment opportunity at Cheltenham in Melbourne’s south-east has been sold by Ray White Commercial.
The standalone property at 20 Bricker Street, Cheltenham, was sold to a private investor for $720,000 by Ray White Commercial Oakleigh’s Ryan Amler on behalf of a private owner for a yield of 6.3 per cent.
Ryan Amler said the industrial warehouse was leased by long term tenant Revamp Refinishing Pty Ltd and the lessee has recently exercised a three year option.
“The building is on a land area of approximately 714 sqm with a building area of approximately 560 sqm,” he said.
“The tenant has commenced a new lease last month for $45,600 per annum.”
Ryan Amler said the property is zoned Industrial 1.