Eltham

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A tenanted industrial property in the Melbourne suburb of Eltham has sold for $582,000 on an indicative 4.4 percent return at auction.
The property at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-eltham-502425346" target="_blank">6/38 Bridge Street</a> is in a business precinct of Eltham with many of Australia’s major big box and branded traders located nearby.
Unit 6 is one of nine boutique showroom-warehouse buildings in a strata-titled development located on the corner of Bridge and Susan Streets, said selling agent Gray Johnson's Scott Ashby. 
Smaller commercial property investments that meet the needs of a private investor or a smaller superannuation fund are well sought in the auction market, according to the selling agent.
The unit has a building area of 230 sqm and is part-showroom and reception area, with a warehouse space at the back.
The tenant, a Pack &amp; Send franchisee, has occupied the property for some years, and currently holds a three-year lease with a passing annual rental of $26,100. There is the option to renew the lease for another three years.
All the usual outgoings are met by the tenant and there are annual rental increases fixed at the CPI plus one percent, so future rental income growth will flow to the purchaser.
“With prominent exposure, a position in a vital commercial precinct of Eltham’s main business area, with a sound lease covenant, I was anticipating interest at auction would see a sale price in excess of the reserve,” Ashby said.
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j.ballantyne1990-6AQqhLzZaK

Small office-warehouse in Melbourne's Eltham sells at 4% return

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A mudbrick residence located in the centre of Eltham has been sold, at un undisclosed price.
Encompassing a total land package of 1468 sqm, the sale of <a href="https://www.realestate.com.au/sold/property-house-vic-eltham-125040090" target="_blank">2 Jessicas Lane</a> was handled by Gayle Blackwood, of Morrison Kleeman Estate Agents.
Offset by bush aspects and a secluded garden, the property is one of only four homes in a street separated by native plantings, parking spaces, paths and an outdoor entertainment zone paved in reclaimed red bricks.
<img src="https://www.urban.com.au/images/2017/04/28/rsz_eltham.png" alt="">
 It offers a studio with workshop that can serve artists, musicians or provide a space for a home-based business.
An updated solid timber kitchen has been fitted with Smeg and Asko appliances, along with a formal living room and seamless access to the outdoor area, which features plumbed BBQ, gas heater and a cedar hot-tub and will have you enjoying the great outdoors on a regular basis.
<img src="https://www.urban.com.au/images/2017/04/28/rsz_2_jessicas_lane__eltham__vic_3095___property_details_1.png" alt="">
Adding to the appeal are in-floor heating, slow-combustion wood fire, slate-tiled bathroom, two split systems, fitted laundry, wood shed, double carport, extra parking, water tanks and ducted vacuum.
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Eltham

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