November 11, 2017

The Ultimate “Six-Pack” Investment

189-193 Chesterville Road & 24-28 Independence St, Moorabbin

Six adjoining commercial properties on a large corner block in Moorabbin were sold as one after auction to an investor for an undisclosed sum.  Three of the properties were separate showrooms at 189-193 Chesterville Road, and three were separate warehouses at 24-28 Independence Street.  The total building size was 1,305sqm, on land of 1,686sqm, generating rental income of approximately $145,000 when fully leased.

James Glen, Senior Selling Executive, said, “Due to the prominent corner location and high site coverage of almost 80%, we had a lot of interest in this property.  The purchaser is likely to eventually develop the property to take full advantage of its location and further maximise its value.”