This article is from the Australian Property Journal archive
AN industrial facility home Thales company Gemalto in Melbourne’s eastern suburb of Mitcham has changed hands for $3.060 million, on a firm yield of 4.98%.
Ian Angelico and Jarrod Moran of CVA Property sold 13 Redland Dr.
The well-presented facility 1,194 sqm facility has a two-level office and high clearance warehouse with dual container height roller door access, on a 2,211 sqm landholding with 16 on-site car parks.
The multinational secure printing and digital security organisation Gemalto has been at the property since 2011 and its rental brings in about $152,647.
“This low yield is normally associated with retail property, however demand for income producing assets has substantially increased since the re-election of the Scott Morrison-led coalition government and interest rate decreases,” the agents said.
They said the property was listed and sold within three weeks, during which four offers were received.
