This article is from the Australian Property Journal archive
A LOCAL investor has paid $2.1 million for a showroom and warehouse property leased to Carpet Call on Nepean Highway in Bentleigh.
Teska Carson’s Luke Bisset and Michael Ludksi sold 909 Nepean Highway under the hammer, following interest from investors and owner occupiers.
It has a single-level 435 sqm brick facility and eight parking spaces, and traded at a 5.7% yield with a three-year lease to Carpet Call from April 2017 returning $122,620 per annum net.
“Carpet Call has been on site for 10 years and the thought of having such a well-established national tenant and a property which has excellent exposure to one of the busiest thoroughfares in Melbourne was very attractive and that was reflected in a very good result for the vendor,” Bisset said.
The property is positioned within a well-established showroom strip that includes Autobarn, Bob Jane T-Marts, Forty Winks, Beacon Lighting, Kennards Hire and Hungry Jacks.
Australian Property Journal
