A prime office warehouse facility of 6,591 sqm in Dandenong South has achieved a $10 million price tag after being sold to an owner/occupier by Crabtrees Real Estate.
The property, at 98-108 Greens Road, features partitioned office accommodation, 9.5m – 11.5m warehouse clearance and 4 container height roller doors on an impressive 16,410 sqm site.
The warehouse was purchased by a neighbouring business to cater for the future expansion of their company.
Crabtrees Director, Grant Tishler, said the sale was a "fantastic result" and reflected the strength of the Melbourne industrial market.
Taubmans Paints have leased a prominent showroom at 249 Wickham Road, Moorabbin as part of the expansion of their retail brand.
The 418 square metre property was leased on a 5 plus 5 year lease by Rodney King of Crabtrees Real Estate for $65,000p/a NET. The area is home to a number of similar retailers and was snapped up within days of coming onto the market, according to Mr King.
“We recently leased Taubman’s another site in Oakleigh and knew what they were looking for," he said.
"They are a great company to deal with and usually invest significant capital to improve the buildings they lease.
“Although we had a lot of interest in the high exposure property, we knew Taubman’s were keen to secure the site and the landlord was happy to have them as a tenant," Mr King added.
A Double storey traditional style factory/warehouse currently leased as a personal training studio will be sold via an expressions of interest campaign ending next month.
The property, at 3 Russells Place, Hawthorn East, comprises a ground floor open plan workout area, with the first floor incorporating amenities and three offices with 'Commercial 1' zoning under the Boroondara Planning Scheme.
The premises is subject to a new five year Lease, commencing 1 March 2019, at a rental of $60,000 per annum plus GST (net).
Paul Farrelly of selling agent Sutherland Farrelly said they were expecting solid interest in the property, noting the recently exercised further term of five years and the underlying land value in this “blue chip” location.
The Expression of Interest campaign with close on Thursday, 6th December at 3pm with expectations currently around the $1,400,000 mark.