This article is from the Australian Property Journal archive
A PRIVATE investor has bought a facility at Terracotta Drive Blackburn in Melbourne’s tightly held eastern suburbs industrial property market.
CVA Property Consultants on the sold property at 28-36 Terracotta Drive, Blackburn via auction, in conjunction with Colliers International, fetching $4,335,000 plus GST.
The property has a total building area of 3,426 sqm and sits on a land area of 5,223 sqm, located within close proximity to the ‘Golden Mile’ and Eastern Freeway.
Zoned Industrial 1, the property features 480 sqm two level office, 2 x securely fenced storage yards and 38 on-site car spaces.
CVA director Ian Angelico said the sale highlights the strength of the commercial market in the eastern suburbs.
He added that there is high demand in this area where there is little stock available.
“Therefore vendors can capitalise on great sales results. The property was purchased after competitive bidding from three parties, by an investor looking to re-lease the building,” Angelico concluded.
Australian Property Journal
