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OAKLEIGH NORTH ROAD SITE SOLD

A high exposure main road site of 1,466sqm in Melbourne’s South Eastern suburb of Oakleigh has sold under the hammer for $1,965,000 following more than 60 enquiries.

Rodney King and Chris McKenzie of Crabtrees Real Estate sold 1370-1372 North Road Oakleigh, a former petrol station site zoned Industrial 1, with a month to month tenancy in place, representing a land rate of $1,340 PSM approximately.

The property has a broad street frontages of 36.5 metres and was sold to a local business who intends to build a showroom on the site for their business.

“Given its location and the fact that there are limited main road opportunities in the tightly held area, there was significant competition,” King said.