This article is from the Australian Property Journal archive
OWNER-occupiers have pounced on two office warehouse properties in Melbourne south-eastern suburb of Braeside and Moorabbin.
Crabtrees Real Estate sold a versatile strata titled office warehouse building at Unit 4 56 Keys Rd Moorabbin by deadline private sale for $2.6 million on standard settlement terms.
The 2,426 sqm building occupies a 2,968 sqm site with 17 car parking spaces on the title. Director Chris McKenzie said the purchaser is an existing owner-occupier in the strata titled development.
“This property was offered with vacant possession at settlement as the vendor, a wholesaler of household textile goods, is retiring. Crabtrees assessed the likely value of this well located, practical and functional building as being in the $2.5 million range,” McKenzie said.
Another owner-occupier in the packaging sector has also purchased 52 Tarnard Drive in Braeside for $1.45 million equal to $839 per sqm of building area.
Selling agent Casper Janholt said the property is a highly accessible office warehouse comprising a total building area of offices and warehouse space of 1,728 sqm on a site area of 3,063 sqm with 16 car parking spaces.
“The building has been leased as the Cheltenham Youth Club returning a rental of $122,521 net per annum under a lease with no further options that expires on 30 June. The purchaser proposes to occupy the premises at this time.
“Braeside is being rediscovered by both owner-occupiers and tenants with the recent improvements to the regional road network and we hold strong enquiry for occupancy opportunities in the local area,” Janholt said.
Australian Property Journal
