A COMBINATION of two small-to-medium businesses and a self-managed superannuation fund have bought three commercial and industrial properties in Melbourne's south-east. They were offered for private sale by Crabtrees Real Estate.
A 577 sq m factory and warehousing space plus an office component at 31 Carinish Road, Oakleigh South, was bought for $625,000 by glass products group ASG as overflow storage for its business. The building has 147 sq m of offices over two levels with an adjoining 430 sq m of warehouse space. The property has a rear yard for storage or parking.
Unit 3, 13-17 Japaddy Street Mordialloc, with 529 sq m of warehouse and small office area of 86 sq m has been bought for $550,000. The buyer is a fencing contractor. The property has car spaces and is a good clearance building with a container-height roller door for access.
In the Woodlands Industrial Estate in Braeside, a self-managed superannuation fund has paid $755,000 for a modern office warehouse of 539 sq m that is leased to an importer of pipeline products. The lease has about 18 months to run, with a two-year option.
The Industrial 1-zoned property at 16 Endeavour Way has a high-clearance warehouse of 434 sq m with 210 sq m of airconditioned offices and eight on-property car parking spaces. The annual rental is $52,119, so the yield to the investor will be about 6.9 per cent.