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CLAYTON PROPERTY SOLD AT AUCTION ON A TIGHT 4.4% YIELD


Chris McKenzie and Rodney King of Crabtrees Real Estate has sold 23 Meriton Place, Clayton at Auction for $1.3Million, well above vendors expectations.

The solid freehold industrial investment of approximately 870m² in the heart of Clayton is home to long standing tenant “Aussie Toys” and changed hands on a tight 4.4% yield on annual net income of $57,085.

Multiple bidders fought it out driving the sale price to over $200,000 above the reserve, the victor being a private investor.

McKenzie said “It was a great result in the current market.”