This article is from the Australian Property Journal archive
TWO industrial properties at Derrimut in Melbourne's western suburbs have sold for over $3 million by Colliers International.
Colliers International agent Nathan Bingham has negotiated the sale of a speculative 2,395 sqm office warehouse at 166 Paramount Boulevard in Derrimut for $2,250,000, on behalf of the Makland Group. The sale represented $940 per sqm.
Bingham said the facility had been purchased prior to the commencement of construction by Top Tyres, a tyre distributor and wholesaler.
“Fortune has again favoured a planned speculative development in Derrimut. The site was permitted with construction completion set for mid-July, and this was one of the key factors that attracted Top Tyres to the property.
“This is a trend that is set to continue in a market where buildings of this size are becoming harder to find,” Bingham said.
At 144 Australis Drive Derrimut, Colliers industrial associate Chris Jones sold a freehold industrial property for $900,000, reflecting a rate of $1,038 per sqm, on a yield of 7.4%.
The property was snapped up by a private self managed super fund. The property comprises a 868 sqm building on a 1,441 sqm site. It is currently leased to Australian Graphics Pty Ltd for three years plus 5 year, returning $67,000 p.a.
“This property was purchased for a SMSF, a buyer group which is currently very active in our market. We are receiving strong demand from this group,” Jones said.
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