South East Melbourne's Mount Waverley, Oakleigh in demand

Industrial areas in South East Melbourne's Mount Waverley and Oakleigh are in high demand currently due to the conversion of industrial properties into residential  developments.

Only four of the 28 units remain not he market at Spectrum Business Park,  21-35 Ricketts Road Mount Waverley, and 19 of the 25 office warehouses at Industria, 20 Edward Street, Oakleigh are already sold. 

Luke Pitcher, manager of project marketing for Crabtrees Real Estates said the most in demand properties are those in the price points from $500,000 to $1.3 million.

"The ratio of investors to owner occupiers in these recent sales was approximately 60% owner occupiers to 40% investors," he said.

“Investors are successfully leasing the units and gaining net returns of approximately 6-7%."