SOLD - AN INVESTMENT THAT SOLD BEAUTIFULLY
1 Nepean Hwy, Mentone
Quality commercial property investments continue to be popular in south east Melbourne, with investors remaining very active in the market. This has been seen again with the sale of 1 Nepean Highway, Mentone via an EOI campaign for $4.875 million to a local passive investor.
Five offers were received for the property over the course of the EOI campaign, which was eventually sold on a yield of 5.65%.
Leased to Mentone Nissan and LDV, the 1,286sqm showroom with workshop and warehouse is located next to the recently opened Officeworks Mentone, now the world’s largest office supplies outlet.
“After originally offering the property to the market with vacant possession late last year, we instead leased it out,” explains James Glen, Senior Sales and Leasing Executive. “This enabled us to turn the property into an attractive investment, and were able to attract a higher price for the vendor.”
For further details:
JAMES GLEN 0401 493 277