Dual office warehouse units in Huntingdale sold for $2.05 million

A new office and warehouse dual occupancy in Melbourne’s south-east suburb of Huntingdale has been sold to a private investor.

The two units were 308 square metres each, with street frontage and secure on-site parking, built on a 1388 square metre industrial 1 zoned site.

38 Shafton Street sold for $1.15 million, while 32 Hargreaves Street sold for $905,000.

Both are destined for a self-managed super fund, according to Savills associate director Daniel Kelly, who brokered the deal.

Kelly said the were sold with three year leases at a total rental return of $118,000 per annum net plus GST and outgoings.

He said tax advantages available to SMSFs and low interest rates were advantageous for buyers.

“Having the tenancies in place on new leases and the quality of the product coupled with substantial depreciation benefits is an easy fit for a self-managed super fund,’’ Kelly said.

The vendor was a local developer.