Sydney, 25 March 2015 – Private investment fund, Ackland Printing Pty Ltd has recently acquired an industrial property in Artarmon for $1,800,000.
Located at 9/78 Reserve Road, the well-presented industrial strata unit comprises 442sqm and features modern accommodations built circa 2003, high clearance storage, internal lift, 24 hour / 7 day operation approval and on-site parking.
The site is currently occupied by commercial bakery Pan Italia on a recently signed 10-year lease.
Anthony Bray and Peter Mangraviti negotiated the sale on behalf of a private syndicate vendor, reflecting a yield of 8.26%.
Mr Mangraviti said Ackland Printing purchased the property after actively searching for an investment site in the area.
“The purchaser was drawn to the property due to the newly executed long term lease and the prime lower north shore location,” Mr Mangraviti said.
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