Rowville office/warehouse sells pre-auction for $370,000

AN immaculately fitted office/warehouse has sold pre-auction for $370,000, a net yield of 5.1 per cent, to a local investor following a successful campaign at 11/9 Hi-Tech Place Rowville, Victoria.

With a 232sq m* building area, the property was in the Rowville Industrial Estate, which provided great access to main arterials such as Ferntree Gully Road, Stud Road, Kelletts Road and was moments away from Eastlink.

The asset was marketed and sold by Ray White Commercial Ferntree Gully Director Paul Waterhouse.

Mr Waterhouse said the property was highly sought after because it was an entry-level investment opportunity and offered a number of benefits.

“The asset was particularly appealing to potential buyers because of its excellent fit-out and the fact it’s in a low vacancy area,” he said.

“We had nine enquiries throughout the campaign and four inspections. Selling before it got to auction highlights that it was too good an opportunity to pass up.

“The asset has a lease term of two + two years, generates $19,759.92 p.a.* net rent return, and has outgoings of $5,472*.

“The office area provides diverse work stations for an array of uses. With a reception area and open-plan office that leads to a second office, kitchen and amenities on the ground floor.

“On the first floor is a boardroom or open-plan office looking over the warehouse area. The warehouse has great internal clearance, natural light, and a motorised roller shutter door.

“The tightly-held precinct is surrounded by large corporations such as Reece Plumbing, Toll and Kings Transport, showing the strength of the industrial precinct.”

*Approximately.