Warehouse in Melbourne's Campbellfield snapped up for $1.8 million
Staff ReporterJuly 17, 2017
A leased warehouse/office property in Melbourne’s Campbellfield has just sold to a local investor for $1.8 million and strong yield of 7.95 percent.
The 57-65 Paulson Road property generates an annual rental of $143,170 p.a. net. The property is on a five-year lease with another five-year option.
The 2,600 sqm building sits on a land area of 4,180 sqm and has a side hardstand/yard area, multiple roller door access and first floor office space.
At the purchase price, the building rate works out to be $692.31 per sqm.
The property is located close to main roads and major arterials including Sydney Road, Mahoneys Road, Hume Freeway, Western Ring Road and Tullamarine Freeway.
The selling agents were Leo Mancino and Bradley Ellul of CVA.
