This article is from the Australian Property Journal archive
SUTHERLAND Farrelly has sold a city fringe office, showroom and warehouse building located at 146 Dudley Street, West Melbourne for $3.32 on a yield of 5.27%.
The property comprises a modern office, showroom and warehouse building of 1,280 sqm set on a 1,440 sqm allotment.
The property was offered subject to a new five year lease to Photobition Pty Ltd at $175,000 per annum plus GST net with annual CPI reviews.
Selling agent Paul Farrelly said the property benefits from its mixed use zone, providing future redevelopment options.
“The vibrant city fringe retail and commercial sector continues to perform strongly, as sites with future redevelopment upside are highly desired by investor and developers alike,” he concluded.
Australian Property Journal
