Briefs

Sale revealed in graphic detail

A PROPERTY with a large land area, low building coverage and short-term tenancies has been sold at auction by Gray Johnson for $1.02 million. A graphics company was the successful bidder. The property at 176 Christmas Street is in the block bounded by Separation Street and Darebin Road and east of High Street. It has a 47-metre frontage to Christmas Street. The land area is 1688 square metres with buildings of only 770 sq m. The two tenancies are Melco Milec on a monthly occupancy and Primary Healthcare, whose lease expires next August. Annual rental income is about $34,000.

LALOR

Competition for tightly held location

FITZROYS has sold a commercial property at 292 Station Street, Lalor, for $960,000 at public auction. Selling agent Julian Heatherich said the price was well in excess of the vendor's reserve, achieving a yield of just under 5 per cent. It was bought by a private buyer wanting a property in the tightly held location. The refurbished, single-level, brick retail building of about 125 sq m on 260 sq m of land has on-site parking via the rear lane. It is currently occupied by private healthcare operator Healthscope, which is the second largest private hospital provider, with 43 hospitals.

SOMERTON

Highway showroom

A MAIN road showroom/warehouse at 78 Hume Highway, Somerton, is being auctioned tomorrow by CVA Property Consultants at 2pm on site. With a total building area of 825 sq m, it features a clear-span warehouse, 14 car spaces and direct access to the freeway. It is expected to sell for at least $850,000.

CARLTON

New Lygon store

A NEW retailer is set to open its doors on Lygon Street between Grattan and Faraday streets. Typo, a one-stop stationery concept store that is part of the Cotton On Group, has secured a 6-plus-6-year term lease of the building for $95,000 per annum plus outgoings and GST. The deal provides 131 sq m of prime retail space.

HAWTHORN EAST

Offices fetch $4.6m

A TWO-STOREY office building at 425-427 Riversdale Road, Hawthorn East, has sold for $4,650,000. The auction by GormanKelly's David Minton and Robert Kelly drew a large crowd. The property, with a net lettable area of 1056 square metres and 30 car spaces, was sold with vacant possession.

LAVERTON NORTH

New depot for freight operator

FRESH Freight Tasmania will move into a new $12 million centre in Laverton North, in Melbourne's west, in a deal brokered by a Knight Frank director, Andrew Macqueen. The depot, being built by Vaughan Constructions, is at 35-37 Agosta Drive, and will comprise a cold store warehouse of about 8500 sq m on a 24,000 sq m site. It should be finished in December. Mr Macqueen said more owner-occupiers were acquiring existing premises and vacant sites, due to the limited options.

BROOKLYN

$635,000 for office-warehouse

AN OFFICE-warehouse at 755 Geelong Road, Brooklyn, was sold for $635,000 at auction by ICR Property Group. The stand-alone property is leased by SKF Australia, a multinational engineering solutions business, and is near the M1 West Gate Freeway. The building area is 370 square metres and includes tinted glass showroom windows, upstairs partitioned open-plan offices, an air-conditioned showroom and offices and two roller shutter doors at the front and rear of the warehouse.