Manny Stul lists ex-Moose Toys HQ
The East Bentleigh property where Manny Stul turned the Moose Toys business he acquired in 2001 into a billion dollar enterprise, is for sale.
The 2016 EY World Entrepreneur of the Year and his son in law, Paul Solomon, can expect more than $7.5 million for 7-13 Ardena Court, off East Boundary Road.
On just over an acre with 25 car parks it contains a 3537 square metre office, showroom and warehouse.
The pair paid $3.1m in 2007, occupying until 2012, when it became an investment.
The timing of the listing could prove clever; the asset recently becoming vacant, likely appealing more to owner-occupiers which have been especially prevalent property investors since COVID and despite the rising interest rate backdrop.
Occupiers, investors
Teska Carson’s Michael Taylor and Matthew Feld are marketing 7-13 Ardena Ct, also to investors (story continues below).
As is, they say, it should collect c$400,000 per annum excluding outgoings and GST.
Redeveloped – Bentleigh East is a popular suburb 14 kilometres south east of Melbourne’s CBD – the windfall could be more.
“This is indeed a rare opportunity to purchase a brilliantly located asset which offers investors, owner-occupiers and developers a range of options including redevelopment, subject to approval, facilitated by an enormous street frontage, or repurposing of the very functional improvements,” Mr Taylor said.
“Alternatively, the property offers owner occupiers an extremely well located business address with a highly functional building and excellent freeway access, and investors a ready to go premises which would suit a variety of uses,” he added.
Moose, now a global player with annual revenues exceeding $800m, relocated to nearby Cheltenham where it is still headquartered.
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