Ferntree Gully Investment Sold
A tenanted warehouse/office investment with main road exposure at Ferntree Gully in Melbourne’s east has been sold by Ray White Commercial Vic-Nunawading.
The approximately 165 sqm factory building at 1/1861 Ferntree Gully Road, Ferntree Gully, was sold to a local investor prior to auction for $420,000 by Brett Diston of Ray White Commercial Vic-Nunawading on behalf of a private investor for a 5.5 per cent yield.
Brett Diston said there was keen interest in the investment opportunity on a long-term lease returning gross rental income of approximately $27,102 per annum.
“Investors were eager to secure this entry level gem which also offers excellent exposure with approximately 15,000 vehicles passing the property each day,” he said.
“The property, which included an approximately 70 sqm mezzanine area, is among other successful and established businesses directly across the road from Mountain Gate Shopping Centre.
“The asset is zoned Commercial 2 and offered ample car parking. The site is a short drive away from Eastlink.”