This article is from the Australian Property Journal archive
A LOCAL investor has purchased a South Melbourne industrial and office building leased to two tenants for $1.705 million, at a 6% yield.
Lemon Baxter’s Chris Chartres and Chris Curtain sold 178 Ferrars St via expressions of interest. The agents said the campaign netted more than 120 enquiries.
The 137.8 sqm site on Melbourne’s city fringe is zoned Industrial 1 and has a 204 sqm building. The ground floor comprises a fully fitted commercial kitchen with loading dock, and the first floor a fitted an office space.
Combined annual return on the property is just over $101,100 plus GST.
