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