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TWO stand-alone industrial buildings with individual titles and leased to one tenant have sold for $1.5M following a successful campaign, at Unit 1 and 2/6 Japaddy Street, Mordialloc.
With a land area of 1,495sq m* and 860sq m* in total combined building area, the site was zoned Industrial 1 Zone, and came with Ecoglow as an established long-term tenant.
The Melbourne asset was marketed and sold by Ray White Commercial Oakleigh Senior Commercial/Industrial Sales and Leasing Consultant George Kelepouris.
Mr Kelepouris said there were more than three offers presented to the vendor, before they accepted the sale figure of $1.5M, and that represented a yield of 4.9 per cent.
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“The two buildings were sold to an investor who loved the flexibility of the two factories being available separate for future tenancies, making the investment an asset to his self-managed super fund,” he said.
“The combined current rental income is $73,691 p.a. + GST + outgoings and both tenancies started three-year leases, plus options, in September 2018.
“The asset has a clear span warehouse with good clearance, three-phase power, three electric roller shutter doors, security alarm and data cabling throughout.
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“To complement, the site also came with multiple offices with grand reception area and large boardrooms, as well as 17 on-site car parks that are behind an electric security gate.
“Properties like this one, that offer a multi-tenanted option to invest, really don’t come around very often.”
*Approximately.
For high res images, CLICK HERE.
For the property listing, CLICK HERE.
Media contacts
George Kelepouris
Ray White Commercial Oakleigh Senior Commercial/Industrial Sales and Leasing Consultant
George.kelepouris@raywhite.com
0425 798 677
Grant Payne
Ray White Media Advisor
Gpayne@raywhite.com
0447 000 472