SOLD – 1 Hewitt Street, Cheltenham
July 10, 2020
High, Wide and Light
1 Hewitt Street, Cheltenham – SOLD $965,000
Despite a difficult market and uncertainty around the global COVID-19 pandemic, demand for quality, classic brick warehouses in the Cheltenham and Moorabbin regions continues to be strong.
The latest example of this was the sale of 1 Hewitt Street, Cheltenham by Andrew Pannam, Sales and Leasing Executive, for $965,000. Set on land of approximately 619sqm, the 418sqm building therefore sold at the rate of about $2,308 psm.
“This property generated a lot of interest,” explains Mr Pannam. “We had 76 enquires for it, and received several really good offers. It was eventually sold with vacant possession to a local owner occupier looking to expand their business.”
In additional to its 6-metre clear span flat roof, the building has large front and rear electric roller doors, 3-phase power, an office area, and staff facilities. Also, at the rear of the property, is a 95sqm hardstand yard.