Owner-occupier buys industrial unit in Melbourne's Bayswater for $710,000

An owner-occupier in the automotive industry has purchased a Bayswater industrial facility for $710,000 from a Melbourne-based developer as record low interest rates drive new investment from tenants.

The 1/6 Sydney Road property comprises a 413 square metre industrial unit with front and rear roller door access, eight car spaces and frontage to Mountain Highway.

According to Savills Australia associate director, Daniel Kelly, who brokered the deal, the new tenant had been leasing another premises in the area but wanted to exit the leasing market. 

"There’s no doubt that for some tenants the buying versus leasing argument has swung in favour of buying, particularly with interest rates at a record low and likely to remain low,’’ Kelly said.