October 31, 2019

Dual Income Investment

SOLD  87 - 89 Main Road, Clayton South

Demand for classic warehouses in good locations across South East Melbourne remains strong.  This has again been seen with the recent sale of a double warehouse at 87-89 Main Road, Clayton South.

Initially launched as a private sale, strong and growing interest resulted in Darryl Lever, Sales and Leasing Executive, recommending to the vendor to change the sales campaign to an Expressions of Interest campaign.

Although this occurred relatively late in the campaign at week four, momentum continued, with the property soon selling to an interstate buyer for $940,000.

“We changed tact with this property to take advantage of the strong interest,” explains Mr Lever.  “All up, we had 47 enquiries about it, resulting in eight group inspections, and four offers.”

Leased out to two separate tenants, the property sold on a yield of 6.5%.  Set on land of 1,260sqm, the building of 800sqm was purchased for $1,175psm.

For further details contact:

DARRYL LEVER 0423 044 805