This article is from the Australian Property Journal archive
A LOCAL investor has secured a warehouse office in the Knox Gateway Business Park at Knoxfield in Melbourne’s south east.
The property at 13/1488 Ferntree Gully Road, Knoxfield, Clayton South, was sold for $638,000 by Ray White Commercial’s Paul Rizzo, reflecting a yield of 5.6%.
Rizzo said the property which offered a net lettable area of approximately 340 sqm, comprising a building area of 225 sqm and 115 sqm of upstairs mezzanine, is currently returning rental income of $35,000 per annum.
“We had keen interest in this commercial investment opportunity,” Rizzo said. “The established tenant is on a long term lease with a 3.0% annual rent review.”
Australian Property Journal
