This article is from the Australian Property Journal archive
A LOCAL investor has acquired adjoining converted Collingwood office and warehouse buildings for $2.050 million under the hammer.
Max Warren and Fred Nucara of Beller Commercial sold 16 Robert Street and 15 Glasshouse Road in Melbourne’s inner suburbs.
With Commercial 2 zoning, the property has a site area of 470 sqm and a combined building area of 465 sqm and three parking spaces.
Co-working creative Savant House occupy the Glasshouse Road property on a new five-year lease returning $70,200 per annum net, while the Robert Street building is tenanted until the end of June and brings $66,000 per annum.
The price tag reflected a 6.6% yield.
Australian Property Journal
