Gross Waddell ICR in conjunction with Fitzroys are pleased to announce the sale of Unit 4, 52 Bakers Road, Coburg North.
A crowd of over 40 people attended Thursday’s auction which saw 2 bidders compete for the property before selling for $1.7 million, representing a yield of 4.11%. The sale price also reflects a building rate of some $3,728 p/m2.
Property highlights included:
- Brand new 5.5 year lease plus options to Nasiba Fashion
- Rental $70,000 per annum + GST
- Total building area of 456 sqm*
- Five (5) on-site car parking spaces on title
- Located within the new CONO Business Park
Andrew Greenway of Gross Waddell ICR said, “the campaign generated excellent enquiry from locally based investors looking for a secure investment”.
Marco Sandrin of Fitzroys commented, “since the start of the pandemic we have seen a substantial increase in demand for industrial property from a wide range of buyers who had been traditionally looking in other sectors of the commercial market”.