The Expressions of Interest campaign attracted three offers – pushing the sale amount $350,000 above the initial asking price.
The sale price translates to an initial yield of 6% based on a lease to International Food Distributors. The Assembly Drive property has a lettable area of 2,552sqm and occupies a 4,645 sqm site.
“The strong sale result highlights the continued strong demand for Melbourne industrial investment opportunities,” Mr Homes said.
“We are fielding increased demand from both investors and owner occupiers seeking existing buildings in the south east, which offer good access to the Monash and Eastern Freeways.”
The sale closely follows that of 25 Babbage Drive, Dandenong South, which was sold under the hammer for $2,640,000 - $240,000 above the reserve price and reflecting a yield of 5.28%.
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