This article is from the Australian Property Journal archive
TWO strata office units in Compark Circuit at Mulgrave in Melbourne’s south east have sold for a combined $712,500.
Ray White Commercial’s Theo Karkanis and Paul Rizzo handled the sales.
Karkanis said an approximately 75 sqm tenanted property at 1/9 Compark Circuit, Mulgrave, was sold prior to auction to a local investor for $412,500.
“This was an outstanding investment property in exclusive Compark Circuit and the sale price of $5500 per sqm represents a yield of 5.56%,” Karkanis said. “The office suite is leased by Symbiotic Devices Pty Ltd and is currently returning net rental of $22,950 per annum.”
Karkanis and Rizzo also said an approximately 63 sqm vacant office suite at 4/9 Compark Circuit, Mulgrave, was sold to an owner-occupier for $300,000, representing a sale price of $4,762 per sqm.
Australian Property Journal
