Warehouse Sale

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London bound Fitzroy artist Robyn Dansie and her husband Peter have sold their urban inner Melbourne warehouse.
The two level Fitzroy penthouse cost the couple $570,000 in 2001 when they moved from Sydney's Glebe.
Nelson Alexander agents Arch Staver and David Sanguinedo have set a price guide of between $3 million and $3.3 million for the December 2 auction.
They got $3,575,000.
Dansie creates mixed media artworks and is inspired by colour, design and nature.
The couple are off to the UK to live nearer their daughter.
Set in the heritage MacRobertson building, the two bedroom Kerr Street apartment with 300 sqm of living space features industrial detail and a clean-edged minimalist design.
An 80 square metre garden terrace opens off the expansive living and dining room.
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Artist Robyn Dansie secures $3,575,000 Fitzroy warehouse sale

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A warehouse in Sydney’s inner suburb of Glebe has changed hands for $4.1 million.
The property at <a href="https://www.realestate.com.au/property/24-lyndhurst-st-glebe-nsw-2037" target="_blank">24 Lyndhurst Street</a> is currently used as an office space  but is suited to residential conversion as well, according to its description.
It went to the market with expectations of $4 million and last sold for $1.93 million, CoreLogic RP Data shows. 
It offers nearly 475 sqm of internal floor space across three levels. 
The corner property has polished timber floors, high ceilings and air conditioning.
It is close to light rail and harbourside parklands.
The selling agent was Michael Glynn of The Agency. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/21/GlebeWarehouse2.jpg" alt="">
 
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Warehouse in Glebe suited for residential conversion sold for $4.1 million

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Twelve warehouses at Altona’s Aylesbury Industrial Park have sold out within weeks of construction commencing, a pointer to the strong demand in Melbourne’s south-west suburb of Altona.
Another 20 off-the-plan boutique warehouses in the same business park have also been listed at 36 Aylesbury Drive. 
Six are already in the process of being sold.
The listing agents are Michael Ryan and James Gregson of Allard Shelton.
“Despite there being a significant amount of competing stock in Altona and surrounding suburbs, the demand in this development for off the plan and unfinished stock has been tremendous,” Ryan said.
“We still have a number of disappointed buyers who missed out on 26 Aylesbury Drive and are ready to purchase. Many of them are now setting their sights on the upcoming development at 36 Aylesbury Drive with 6 of the warehouses already on their way to being sold,” Ryan said.
Ryan added that the vendors might decide to build a similar development after the response to the others.
26 Aylesbury Drive was owned and developed by two of Victoria’s largest civil engineering and construction groups, Civilex and Conset Group. 
Construction of 26 Aylesbury Drive is scheduled for completion in November.
Sized between 195 sqm and 205 sqm, the warehouses sold between $405,000-$425,000 for a total of just under $5 million.
Seven out of the 12 Aylesbury warehouses were sold to owner occupiers and the rest to investors. 
Gregson said the mix of investors and owner occupiers buying these assets, pointed to the affordability and easy transport access of the Altona estate as key drivers.
 
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Quick sellout of warehouses at Altona business park 

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The warehouse-style Kaur House at Fitzroy has sold for $2,910,000.
The property on <a href="https://www.realestate.com.au/property-house-vic-fitzroy-126080870">15 Little George S</a><a href="https://www.realestate.com.au/property-house-vic-fitzroy-126080870">t</a>, is designed by architect Andrew Maynard and spans three levels.
It features a living and dining 'zone' opening to an entertainers' courtyard, an integrated Miele kitchen, three large bedrooms and American Oak and concrete floors.
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Warehouse-style Kaur House, Fitzroy, sold

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A tenanted showroom and warehouse facility in Melbourne’s Box Hill has been sold to a developer for $3.5 million in an off-market transaction. 
The <a href="https://www.realestate.com.au/property/482a-station-st-box-hill-vic-3128" target="_blank">480-482A Station Street</a> site was held by a private vendor for more than 40 years.
With a land area of 1,020 sqm, the yield works out to be a little less than 3% yield. 
Cushman &amp; Wakefield’s Robert Colaneri and Andrew O’Connell brokered the deal on behalf of the vendor. 
The property comprises a single level showroom and warehouse facility.
It was sold with an existing long-term tenant in place, Abbeys Auctions. 
The site is close to Box Hill Train Station and Box Hill Shopping centre and within close proximity of Box Hill’s ‘Major Development Precinct’, a retail and commercial precinct that has experienced a substantial uplift in development activity, including the Whitehorse Towers and Sky One buildings currently under construction, according to Colliers.
The site is zoned industrial 3.
“Box Hill has emerged as one of Melbourne’s hottest development and investment markets and the price per square metre (approximately $3,500 per sqm), as well as yield secured for the Station Street property is amongst the highest of any Melbourne industrial transaction,”  said Colaneri.
“Investment into Box Hill has risen dramatically with a number of sites along Whitehorse Road and Prospect Street recently transacted.” 
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Box Hill showroom sells for $3.5 million to developer 

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A converted warehouse in Melbourne’s inner-city suburb of Fitzroy North has has sold to an investor for $985,000, while another awaits a buyer.
The sale of the property at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-fitzroy+north-502416766" target="_blank">1 Bik Lane</a> reflects a yield of 3.3%.
Known as Unit 1, the property comprises loft style offices that are currently tenanted by Media World Pty Ltd on a three-year lease with a three-year option. The current passing rental income is $32,240 net.
The selling agent was Gray Johnson’s Rory White.
The strata titled Lot 1 has a building area of 130 sqm on a site area of 160 sqm, which translates to a selling rate of $7,500 per square metre of building area, according to White.
Still available for sale with an expected sale price at $2.1 million is the larger of the two warehouses. 
It has a floor area of 400 sqm over two levels, and includes polished concrete floors, lofty ceilings and exposed timber trusses. 
The vendor, an advertising and marketing agency, currently occupies this space as a combination of open plan work areas, meeting rooms and private offices but is offering vacant possession on a six months settlement.
This property could be converted to residential or for a continued boutique office occupancy.
“Interested parties should consider the potential of Unit 2 as an investment, for owner-occupancy, or the scope to value add, or redevelop subject to the necessary permits,” White said.
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Warehouse conversion in inner Melbourne sells for $985,000, another listed for $2.1 million

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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 <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-campbellfield-502355778" target="_blank">57-65 Paulson Road</a> 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.
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Warehouse in Melbourne's Campbellfield snapped up for $1.8 million

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A historic building in Brunswick has just sold for $3,140,000, a little below its expected listed price tag. 
The 1903 Federation Free Style building at <a href="https://www.realcommercial.com.au/property-land+development-vic-brunswick-502300374" target="_blank">307 Victoria Street</a> comprises a warehouse, showroom and penthouse.
The property was <a href="https://www.urban.com.au/expert-insights/investing/58409-brunswick-warehouse-showroom-and-penthouse-for-sale" target="_blank">listed in 2016</a> for sale by negotiation with a $3.5 million price tag.
It has housed designer printing business Papers Of Distinction since 1997, founded by vendor Jillian Houlihan.
Set on the Boase St corner, the 527 sqm property has Art Nouveau detailing, including tulip mouldings.
It was also formerly the United Friendly Societies medical dispensary building.
The building has three titles selling as one parcel. It has three frontages.
The zoning is Commercial 1.
Upstairs is a 'New York style' apartment with rooftop terrace and high ceilings, while the showroom has three offices and open fire place.
The selling agents were Peter Sowersby and Jane Sowersby of Walshe &amp; Whitelock and ICR Property Group’s Julian Materia and Raff De Luise.
ICR’s Raff De Luise had said at the time of listing that most of the potential buyers planned to live in the two-bedroom penthouse and operate their business beneath.
 
 
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Brunswick warehouse with penthouse sells for over $3 million

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Two warehouses in Melbourne’s Preston have been snapped up for $2.2 million.
The properties at 22 &amp; 24 Eton Street in Preston’s industrial commercial precinct have a combined building area of 1,092 sqm.
They sale price reflects a building rate of $2,014.65 per sqm, demonstrating a strong demand for similar properties in the area. 
The buyer intends on using one as an investment with a return yield of 4.86 percent whilst the other to potentially owner occupy, according to selling agent Leo Mancino of CVA.
Each property features a high clearance warehouse, two level air-conditioned office, motorised container height RSD, 3 on-site car spaces and first floor balconies. 
The properties are close to transport and shops.
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Two warehouses in Melbourne's Preston change hands for $2.2 million

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A freehold warehouse at Darlinghurst has been sold for $6 million.
Last traded for $1,025,000 in 2006, <a href="https://www.realcommercial.com.au/property-retail-nsw-darlinghurst-502298562" target="_blank">158A – 162 Crown Street</a> enjoys three street frontages via Crown Street, Stanley Street and Chapel Street.
Sitting on 183 square metres of land, the property is zoned R1 General Residential, making it suitable for use as a corporate headquarters or a home and business.
An additional third level is possible with STCA approval and the property also has a double garage.
The previous rental income was $198,000 plus GST and outgoings, while it is currently vacant.
The property was offered through D'Ettorre Real Estate agents Samuel Pacitto-Rusconi and Dominic D'Ettorre.
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