Warehouse appeal for investors as Bentleigh East showroom sells on 6% yield

Larry SchlesingerDecember 7, 2020

The appeal of ungainly industrial property for private investors remains high with a warehouse/office with long term tenants at Bentleigh East in Melbourne’s south-east selling at auction for $1.115 million.

The property at 2 Ardena Court, Bentleigh East, was sold by Ray White Commercial Oakleigh’s Ryan Amler and George Kelepouris on behalf of an undisclosed vendor. 

Amler said the industrial property on a total land area of approximately 1800 square metres and currently leased for $65,000 per annum net was sold to a local investor with a yield of 6%. 

There were more than 30 enquiries for the property and three registered bidders at the auction.

Tenents recently commenced a new five by five year lease.

The property included a large clear span warehouse and well-appointed office/showroom with a building area of approximately 1200 square metres.

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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