This article is from the Australian Property Journal archive
AN industrial investment at Tullamarine in Melbourne's west has been sold for $2.505 million on a 8% yield.
CVA Property Consultants’ joint managing director Anthony Carbone negotiated the sale of the property at 36-38 Trade Park Drive, Tullamarine, via a public auction.
Carbone said the property has been leased to AGS World Transport since 2005 and it entered into a new three-year term from November 01 2013, with a further three-year option.
The property is currently returning $217,000 per annum plus GST.
Carbone said property is located a convenient location and provides direct access to Melbourne International Airport via Melrose Drive, and is within close proximity to the Tullamarine Freeway, Western Ring Road and Essendon Airport.
The building comprises an office/warehouse facility of 2,400 sqm providing two-level office accommodation of 500 sqm and warehouse accommodation of 1,900 sqm – on a land area of 4,648 sqm.
Property Review
