Warehouse/Office Investment Sold
A modern warehouse/office investment opportunity in the Knox Gateway Business Park at Knoxfield in Melbourne’s south east has been sold by Ray White Commercial Oakleigh.
The property at 13/1488 Ferntree Gully Road, Knoxfield, Clayton South, was sold for $638,000 to a local investor by Paul Rizzo of Ray White Commercial Oakleigh on behalf of a local owner for a yield of 5.6 per cent.
Paul Rizzo said the property which offered a net lettable area of approximately 340 sqm, comprising a building area of 225 sqm and 115 sqm of upstairs mezzanine, is currently returning rental income of $35,000 per annum.
“We had keen interest in this commercial investment opportunity,” Paul Rizzo said.
“The established tenant is on a long term lease with a 3.0 per cent annual rent review.
“The warehouse/office complex is located in the sought-after Knox Gateway Business Park. The office has an amazing fit-out and the property also comes with plenty of onsite parking.”