This article is from the Australian Property Journal archive
AN office warehouse unit at Oakleigh in Melbourne's south-east has been sold to a private investor for $670.000 by Crabtrees Real Estate.
Unit 3 at 2 Railway Avenue Oakleigh comprises a total building area of 389 sqm including 213 sqm of office space and 176 sqm of warehouse space. There is also parking for five cars.
Crabtrees’s Matthew Marenko said the property is leased to Profile Partitions Australia Pty Ltd, which recently took a new three year lease at a net rental of $50,000 plus GST.
“The lease allows annual fixed increases of 3% and is supported by a bank guarantee security deposit of $27,500, so the indicative return to the purchaser is of the order of 7.5%.
“These are the type of commercial property investments that we find are actively sought by small private investors and self managed superannuation funds.” Marenko concluded.
Property Review
