Private Melbourne investor Brendan Sullivan is continuing to reweight his property portfolio, paying $5.85 million for five strata titled industrial units in the city’s eastern Vermont.
The properties, 1-5, 187-201 Rooks Road, traded on a blended passing yield of 6.55 per cent.
They ranged in size from 529-870 square metres.
Cushman & Wakefield’s Andrew O’Connell and Robert Colaneri were the marketing agents.
The Vermont deal comes two months since Mr Sullivan paid $17.8 million for an unrenovated and largely vacant office at 1 Bowen Crescent, near the top of Albert Park (in a precinct classified as Melbourne but with postcode 3004).
The Bowen Crescent office was built more than 20 years ago by trucking magnate Lindsay Fox as his headquarters (Linfox later moved to 493 St Kilda Road and is expected to relocate to South Melbourne in coming years).
Earlier last year Mr Sullivan listed for sale a $40 million-plus commercial investment in East Melbourne following a renovation.
In August, the investor paid more than $8 million for a distinctive double storey retail and office building at 428 Toorak Road, South Yarra.