Warehouse Units in Moorabbin Complex Sold for $1,684,000

Warehouse Units in Moorabbin Complex Sold for $1,684,000

Warehouse/office units in an established business part in the heart of the Moorabbin industrial precinct in Melbourne’s south-east have been sold by Ray White Commercial Oakleigh for $1,684,000.

The three units in the complex at 94-102 Keys Road, Moorabbin, were sold by Ray White Commercial Oakleigh’s Ryan Amler on behalf of private investors.

Ryan Amler said an approximately 321 sqm building at 29/94-102 Keys Rd was sold to a private investor for $565,000 post-auction for a record low yield of 4.6 per cent.

“We had more than 50 enquiries for this investment opportunity which is leased by a VIP car care franchise,” he said. “The property was passed in at auction for $535,000 and then sold two weeks later for an extra $30,000.”

Ryan Amler said an approximately 251 sqm vacant building at 18/94-102 Keys Rd was sold to a private investor for $560,000, reflecting a rate of $2604 per sqm.

“We also had more than 50 enquiries during the marketing campaign for this superb industrial property,” he said.

Ryan Amler said an approximately 248 sqm building at 6/94-102 Keys Rd was sold at auction to a local investor for $559,000 on behalf of a private investor for a yield of 4.7 per cent.

“There was very strong interest in all these units in a well-established and maintained business park in the heart of the Moorabbin Industrial Precinct,” he said.