This article is from the Australian Property Journal archive
AN owner occupier has acquired adjoining Preston industrial facilities for $3.08 million, after selling their Collingwood factory to a developer.
Gross Waddell’s Alex Ham and Michael Gross sold 257 and 259 Dundas Street in Melbourne’s north, with number 257 selling under the hammer and the purchaser exercising first rights to purchase 259 before the auction, scheduled to follow immediately afterwards.
The properties both encompass 903 sqm for a combined 1,806 sqm. Number 257 has a 572.5 sqm building and sold with vacant possession; while Number 259 sold with a short-term lease returning $41,000 per annum and has a 600 sqm building.
Ham said four bidders competed for the assets, with two of the three underbidders also owner occupiers.
Australian Property Journal
