This article is from the Australian Property Journal archive
OWNER occupiers have snapped up four industrial properties in inner Melbourne for $2.65 million.
Agents DTZ sold an older style brick factory at 20 Marshall Road Airport West for $410,000. The purchaser is a powder coating contractor who is currently a tenant of the property.
At 49 Hawker Street Airport West another older style brick factory was purchased by an antique dealer for $533,000.
Yarraville has also proven popular with the sale of a 1,215 sqm warehouse located at the rear of 10 Campbell Street for $905,000.
And at 258 Hyde Street another older style sawtooth warehouse of 825 sqm has also been purchased for $800,000 by a firm of consulting geotechnical engineers. Weda Property was the conjunctional agent for the two Yarraville sales.
DTZ selling agent Duncan Scott said the transactions reflect the level of demand from owner-occupiers all keen to secure their property needs for the future.
“Many businesses are recognising that interest rates are still on the low side and that the economy is improving, so the most sensible investment decision they can make is to secure their property needs for the future.
“For many it is demonstrably cheaper to own rather than lease properties which meet their needs and for a lot of businesses the absence of removal or relocation costs is another benefit,” he concluded.
Australian Property Journal
