Melbourne, 5 June 2014- An industrial investment with upside for sale in the popular precinct of Hallam has being listed for sale.
47-57 Wedgewood Road, Hallam covers a site area of approximately 24,990sqm and features two separately titled office and warehouse facilities constructed in the mid 1990’s.
Moxon and Company Pty Ltd, a timber and flooring specialist, currently occupy Unit 2’s office and warehouse and Unit 1 warehouse, with a lease expiring in December 2017. Bunnings Group Limited occupy Unit 1’s 495sqm office.
The property offers excellent proximity to the surrounding road network, with immediate access to South Gippsland and Princes Highway.
Rory Hilton and Chris O’Brien from CBRE Industrial Investments are marketing the property in the highly regarded industrial area of Hallam.
Mr Hilton said industrial investment opportunities are rarely made available in this tightly held precinct.
“This offering provides the astute investor an opportunity to acquire a highly functional and flexible investment with key attributes,” said Mr Hilton.
“Although subject to leases expiring in just over three years, it is currently seriously underlet at a passing rent of approximately $509,690 per annum net reflecting only $51psm approximately, being well below market level. This provides some great reversion potential for investors.”
The property is being sold via an Expressions of Interest campaign closing Thursday 26th June at 4pm. For more information, please contact Rory Hilton on 0433 130 720 or Chris O’Brien on 0407 664 233.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.