This article is from the Australian Property Journal archive
AN investor has purchased adjoining office and showroom buildings in Melbourne’s Preston after auction for $2.92 million.
Gray Johnson’s Matt Hoath marketed 64 and 66 Albert St on behalf of previous owner-occupied Dynamic Billiards Pty Ltd, who had owned the property for 13 years.
The purchaser plans to lease them as a showroom-warehouse or storage operation. Each building has office space and roller door access.
Number 64 has a building area of 689 sqm and 66 Albert St 706 sqm. They are currently zoned Industrial 3 but are within the Northland Urban Renewal Precinct, where the City of Darebin is progressing strategic planning in support of a rezoning of the area.
It is expected the precinct will be rezoned in the medium term.
Both properties are located just north of Bell Street, affording easy access to other major arterial roads, and close to major occupiers that include Harvey Norman, Officeworks, Dan Murphy, Ray’s Outdoors, Adairs, Baby Bunting, Total Tools, Repco and Hungry Jacks.
