Warehouse in Melbourne's Coburg North sells prior to auction
Prateek ChatterjeeDecember 7, 2020
An industrial warehouse in Melbourne’s Coburg North has sold prior to auction for $1,725,000 at a yield of 8.34 percent.
The warehouse at 10-12 Hocking Street is leased to Entouragefoods Pty Ltd for four years from August 2015 with another term of four years to follow and 3% annual increases.
It provides a rental return of $144,000 pa plus GST and outgoings.
The warehouse has a land area of 1,511 sqm and floor area of 1,893 sqm. The zoning is Industrial 1.
The selling agents were John Nockles and Seamus Bolst of CVA Property Consultants.
The property is surrounded by main arterials including Sydney Road/Hume Highway and Bell Street.