Dandenong South warehouse trades for $28m
Sydney investors have sold a major Melbourne industrial investment.
The Dandenong South asset, 41-53 Monash Drive, changed hands for $27,955,000.
Crabtree’s Grant Tishler and Chris McKenzie were the agents.
Last month we reported a toy factory in the suburb sold for $10.7 million.
41-53 Monash Drive
On 2.87 hectares with a 15,830 square metre improvement, which also goes by 41-51 Monash Drive, is leased to an ASX group until 2032 (continues below).
Based on the annual net income – $1,595,434 – the sale price reflects a 5.71 per cent yield.
The property previously traded in 2011 for $11.66m.
Dandenong South is 31 kilometres south east of Melbourne’s CBD.
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