This article is from the Australian Property Journal archive
A Hong Kong-based investment group has acquired a 1.8-hectare industrial facility in Wantirna South for $6.45 million.
Ian Angelico and Jarrod Moran of CVA, in conjunction with Philip Leeson and Nick Draffin of Appleby Real Estate, sold 89 Lewis Road site, which is leased to Australia Post and Silvan Australia, via deadline sale.
The property comprises a total building area of 7,912sqm across multiple buildings, and has a 90-metre frontage to Lewis Road.
Australia Post leases the front building of 5,186sqm on the site, plus a canopy loading area of 813sqm, and returns $318,280 per annum plus GST.
Agricultural machinery and accessories group Silvan Australia leases the two rear buildings of 918sqm and 995sqm, returning $122,003.50 per annum plus GST, for a combined income of $440,283.40 per annum.
The property was marketed as “an ideal land bank for future development” with proposed industrial estate plans, and the agents said offers were received from local and offshore parties, with the final sale price reflecting a 6.82% yield.
Australian Property Journal