Substantial industrial facility at Wantirna South sold

A substantial industrial facility at 89 Lewis Road, Wantirna South was sold by CVA in conjunction with Appleby Real Estate by a deadline sale for $6,450,000.

A number of offers were received from both local and offshore prospective purchasers, with a successful offer being accepted from a Hong Kong based investment group, representing a yield of 6.82 percent.

Comprising a total building area of 7,912m2 and situated on a huge site area of 1.8 hectares, the property provides a generous 90 metre frontage to Lewis Road and features substantial industrial improvements, incorporating a large power supply, hard stand area and multiple RSD.

The property is leased to two well known tenants Australia Post and Silvan Australia returning a combined annual rental of $440,283.50 pa net. In addition it also features further upside with the potential to develop into a business park in the future STPA.

Providing easy access to major roads including Stud Road, Burwood Highway and Mountain Highway, the subject property is located 5kms to Eastlink, under 2kms to Westfield Knox and just metres to Lewis Park.