This article is from the Australian Property Journal archive
TWO properties including an industrial development site in Rosebud have sold for a combined a $4.9 million after attracting around 70 enquiries.
MP Burke Commercial Real Estate’s co-principal Pat Burke handled the sale of 2-4 Henry Wilson Drive & 6-8 Henry Wilson Drive, Rosebud.
Burke said the sale campaign generated a strong response with some 70 enquiries across Australia resulting in nine expressions of interest.
The first property, 2-4 Henry Wilson Drive sold for $2.65 million and was offered with a 5 + 5-year lease to OuRVan RV returning $150,000 net p.a. The sale price reflects a yield of 5.66% to a local investor. The land area is 9,673 sqm.
The adjoining 8,500 sqm vacant block of land at 6-8 Henry Wilson Drive was purchased by developers for $2.25 million, on a land rate of circa $265 per sqm. The buyer intends to develop industrial warehouse and factory units to meet growing demand in the area.
Burke said this is the first time in over 25 years these properties have been offered for sale. He added that both properties offered major exposure to Boneo Road and will benefit from strong business activity in one of Australia’s major and most attractive growth corridors, the Mornington Peninsula.
Australian Property Journal
