Melbourne warehouse trades at sub four per cent yield
A warehouse covering a small portion of a 5651 square metre block, in Coburg North, sold for $7.51 million – a 3.97 per cent net passing yield.
Under-rented, if assessed by market rates, the return for 166-170 Newlands Road would rise to 5.89pc.
ASX listed Capital SMART Repairs is the occupier on a lease expiring in early 2028.
A 2951 sqm warehouse is accessed via three roller doors.
The improvement is also fully sprinklered with an upgraded power supply up to 250 Amps.
There is an internal drainage system too and underground triple interceptor.
CBRE’s Jake George, Josh Deluca and Matthew Romanin were the agents, closing an expressions of interest campaign in August.
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