Local investors have traded a small warehouse and storage facility in south east Melbourne’s Moorabbin.
The 2630 square metre asset, 18-20 Roberna Street, fetched $4.775 million – $800,000 over reserve.
The price also reflects a low 4.4 per cent yield.
Ray White Commercial’s Ryan Amler and George Ganavas represented the vendor, which held the property since 1980.
18-20 Roberna Street
With 12 units – two warehouses at the front and 10 self storage units behind – the asset contains 1516 square metres.
Being strata titled, and each with two car parks, the property was marketed for its potential to be sold down (story continues below).
“This property attracted a lot of attention from local investors with…eight registered bidders on auction day,” Mr Amler said.
“A trophy asset, the site provided a rare opportunity to own 12 units in one line,” he added.
“It also presented good value add opportunities,” according to the executive.
Moorabbin is 15 kilometres from the CBD.
Subscribe to our newsletter at the bottom of this page.