This article is from the Australian Property Journal archive
A FACTORY and showroom property has sold for a record yield of 5.49% on the weekend.
Agents Allard and Shelton auctioned off the property at 505 – 509 Keilor Road in the Niddrie District, approximately nine kilometres north west of the Melbourne CBD, for $2.55 million.
Sales executive Joseph Walton said there were approximately 50 spectators at the auction, but the competition was down to five prospective purchasers.
The offering benefited from a five year lease to Crane Distribution Ltd (trading as Tradelink Pty Ltd) and produced an annual gross income of approximately $140,000 per annum.
The property comprises a substantial building of 955 sqm, upon a land allotment of 1,778 sqm, zoned Industrial 3.
“The sale price reflected a yield of 5.49% – a record for showroom/factory properties in the Niddrie area!
“If you’re thinking of selling, we have several qualified buyers ready to buy!!” Walton concluded.
Australian Property Journal
