Cushman sells Knoxfield office warehouse for $6.7m
Cushman & Wakefield today announced the $6.7 million sale of an office warehouse in Knoxfield located 27 kilometres east of Melbourne’s CBD. The site was sold to a private investor on behalf of Doidge Property Group.
The site located at 13 Gilbert Park Drive in Knoxfield in Melbourne’s south east industrial precinct was sold fully leased with two long term tenants in place and a WALE of 5.2 years. The property generated a net annual return of $450,000, reflecting a yield of 6.71%.
Cushman & Wakefield’s Industrial Director Victoria, Andrew O’Connell and Senior Executive, Robert Colaneri managed the sale on behalf of the vendor.
Commenting on the sale, Cushman & Wakefield’s, Andrew O’Connell, said: “Interestingly, we are seeing strengthening demand for quality industrial investment stock in Melbourne’s south east but supply remains highly limited. Given the location and condition of the property, it comes as no surprise the property sold within only a few weeks of listing.”
Eclipse Commercial Seating secures two Knoxfield warehouses for a combined $9.05m
Cushman & Wakefield has today announced the combined sale of two warehouses on Henderson Road, Knoxfield in Melbourne’s east for $9.05 million. The property was sold in one line to commercial furniture business, Eclipse Commercial Seating, that purchased the site as an investment.
Both sites were sold fully leased with a combined annual return of $738,000, reflecting a 8.15% yield with a WALE of 1 year.
The first property located at 22 Henderson Road is a modern office warehouse with a total building area of 5,846 sqm on a 9,505 sqm block. The property positioned at 24 Henderson Road is a 3,670 sqm warehouse on a 6,248 sqm block.
Cushman & Wakefield’s Industrial Director Victoria, Andrew O’Connell, and Sales Executive, Colliers International, Richard Wilkinson, managed the sale on behalf of the vendor, Derril Pty Ltd.