Quality standalone building at Mitcham sold

Quality standalone building at Mitcham sold
Staff reporterNovember 20, 2016

A quality standalone building at 7 Redland Drive, Mitcham was has been sold by CVA to a local investor for $2,300,000.00, equating to a building rate of $2, 575.59 per sqm.

The property was leased at a rental of $135,000 pa representing a yield of just under 6 percent.

The property comprised a total lettable area of 893m2, with clear span warehouse and office.

Its truck access was from Redland Drive, just off Mitcham Road, allowing easy access to Canterbury Road, Whitehorse Road and Eastlink.

Editor's Picks

Half of apartments snapped up in Setia's Atlas Melbourne skyscraper
Sherpa expands Palm Beach footprint with Flourish Ovana plans
TOGA’s Wicks Place brings Harris Farm to Marrickville
Bradmill Quarter: Bringing community and amenity to life in Yarraville
Orchard Piper secures $20m record-breaking penthouse sale at One Toorak Place