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…
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.”
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…