This article is from the Australian Property Journal archive
A STANDALONE office and adjoining warehouse property at Preston has been sold after auction by agents Gray Johnson for $2.54 million.
The property was offered with vacant possession as the previous occupier electrical products group Moduline had recently relocated.
Located at 20 Reserve St Preston, the purchaser is an owner-occupier who will relocate their operations to the property from their current location in West Melbourne.
The building is on a corner site with Fink St and comprises a total building area of 3,131 sqm, made up of 760 sqm of ground, first and mezzanine level offices with the clean 2,371 sqm warehouse adjoining.
Gray Johnson director Matt Hoath said the property is located within the outstanding northern suburbs Darebin industrial precinct which has a number of high profile businesses just to the south of the junction of Albert and Bell Streets.
“This building represented an ideal corporate or business headquarters with a modern façade and plenty of off street parking,” he added.
Australian Property Journal
