The biggest sale was for a modern office warehouse at 117 Bamfield Road, which sold to a private investor on a yield of just over 7 per cent. The property includes a 3100 square metre warehouse and 635 square metre office building, and was sold with an eight year lease to Chocolatier Australia.
Another property, a modern warehouse has also sold to a private investor for $3.5 million on a yield of 8.2 per cent. The property sits on a 6682 square metre block with 55 metres frontage to Dougharty Road. It sold with a five year lease to retail merchandising business Mei + Picchi.
Colliers International selling agent Tony Iuliano said the properties were close to sub-arterial roads such as Plenty Road and Bell Street, which provided links to the Tullamarine Freeway and Western Ring Road. He said the selling prices reflected investor demand for property in Heidelberg’s established industrial precinct, which is just 15 minutes from the CBD.