Investor buys Footscray site on 2 percent yield
Staff reporterDecember 7, 2020
A Melbourne investor investor has paid $1.425 million on 2 percent yield for a Footscray warehouse with development potential
The property, 112 Buckley Street, is a 435 square metre office and warehouse on a 646 square metre site sold subject to a monthly lease to an auto repair business returning $28,560 per annum net.
Selling agent Julian Heatherich from Savills said it was a prime development site with the potential for a six level building and an existing tenancy providing holding income, sold as a long term investment.