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MAIN ROAD INDUSTRIAL WAREHOUSE IN BRAESDE SELLS ON TIGHT YIELD!
A main road investment sold at auction to a local investor for $1,355,000 reflecting a yield of 4.6%.
Crabtrees Rodney King and Chris McKenzie negotiated the sale of the warehouse at 1/272-280 Boundary Road Braeside.
The property of approximately 745m² is leased to long standing national tenant PETStock at $63,325 per annum. The tenant has occupied the property since 2000 and recently signed a new 3 + 3 year lease.
Rodney King said “The auction attracted multiple bidders pushing the sale price well over vendors expectations.”
Chris McKenzie added “The vendors had built the building some 30 years ago and were pleased to see it sell to a local family.”
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