December 07, 2015

Sold Prior To Auction: 620 Frankston - Dandenong Road, Carrum Downs

A brand new purpose built funeral parlour in Carrum Downs (10 minutes from Dandenong and 5 minutes from Frankston) sold 2 days prior to auction for $3.5m.

The 375sqm building on 5,800sqm of land was partially leased to Bethel Funerals (World Investments Pty Ltd) had 40 car spaces on site and offered 3 street frontages.

Based on an annual rental of $140,000 p.a, 620 Frankston - Dandenong Road sold on a yield of 4%.

Michael Crowder of Nichols Crowder Property Solutions said "the campaign generated over 50 enquiries. The local investor / developer was attracted to the huge street frontage, situated on a major intersection (opposite Bunnings), the quality tenant and build plus the site had further development potential."

For enquiries contact:

Michael Crowder - 0408 358 926