This article is from the Australian Property Journal archive
A LOCAL investor has acquired a Mornington Peninsula showroom and warehouse leased to Tradelink for $1.15 million.
The 11 Henry Wilson Drive property within the Rosebud Industrial Estate in Capel Sound has a 707 sqm building on a 2,028 sqm site.
Zoned Industrial 3, it is leased to Crane Distribution Limited, trading as Tradelink, a fully owned subsidiary of Fletcher Building Limited which is listed on the New Zealand stock exchange.
The five-year deal runs until the beginning of 2019 with another five-year term. Current rental is $64,764.28 per annum, and the sale price reflected a passing yield of 5.63%.
MP Burke Commercial Real Estate’s Pat Burke negotiated the sale.
“We received good enquiry from investors, developers and owner- occupiers seeking a secure cash flow, strong lease covenant and scope to value add within one of Victoria’s fastest growth corridors,” he said.
Australian Property Journal
