Double deal for site

A 3200-square-metre office-warehouse development in Laverton North has been leased and sold within a fortnight, fetching $2.7 million. Nathan Bingham, Colliers International's manager in charge, Melbourne west, negotiated both deals on 70 William Angliss Drive. The new tenant, RMD Industries, which has operated locally for more than 50 years, took out a lease with passing rent of $220,000. The subsequent sale reflected a yield of 8.15 per cent. "It was the combination of the quality of the property, its location and the strength of the new tenant that made both deals possible," Mr Bingham said.