Seven bidders,170 enquiries for Cremorne warehouse

A converted warehouse at Cremorne (Richmond) has sold to an owner-occupier for $1.95 million at the land rate of $10,427 a square metre.

The property, 16 Dove Street, features a 312 square metre, two level, converted warehouse with secure undercover parking for nine vehicles, a private office, laundry, bathroom, and two staircases providing separate first floor access. 

The first floor includes an open plan mezzanine and a private office, an open plan workshop/breakout area with fully equipped kitchen and a large courtyard.

The 187 square metre site has ten metres frontage to Dove Street. 

According to selling agents, Teska Carson’s Tom Maule and Matthew Feld, they had 170 pre-auction enquiries for the property.

Mr Maule said the enquiry level reflected both the first rate conversion, providing multiple tenancy options, and the prime Richmond location, which appealed to investors and owner-occupiers.

"This is a funky converted warehouse/office property with a flexible layout providing multiple use options, and secure on-site parking, which is well suited to owner-occupation, especially those looking for a point of difference and a location close to everything, but it also appealed to investors sure of demand for the space,’’ he said.

The property was sold with vacant possession by a Melbourne based investor.