This article is from the Australian Property Journal archive
A PRIVATE investor has bought an office and warehouse property at Derrimut in Melbourne’s west for $3 million on a yield of 7.8%.
Savills’ industrial directors Chris Jones and Ben Hegerty negotiated the sale and leaseback deal.
Located in the Paramount Industrial Estate, the 84 Hunter Rd property comprises a 2,656 sqm facility including 413 sqm of office, a 746 sqm mezzanine area and a 2,243 sqm of warehouse space on a 3,509 sqm site.
Hegerty said vendor, form-liner and mould manufacturer, Reckli Australia, had agreed to a six-year leaseback deal with two, five-year options at circa $235,000 per annum net from settlement.
Jones said the property presented as an ideal sub $5 million industrial investment.
“The property offered a very secure lease profile at an agreed rental on a popular estate in a great location, with regard to Melbourne’s best transport infrastructure, and just 17 kilometres from the CBD,
“It really ticked all the boxes,” Jones said.
Australian Property Journal
