Salta to Sell Altona North Office Warehouse
LOCAL builder and fund manager Salta Properties is selling another asset, this time in Melbourne’s west.
The 1.3 hectare industrial site with a 6800 square metre office in Westgate Drive, Altona North, is fully leased to Toyota Australia which uses the property to prepare motor cars for its national staff.
Beller Commercial director Fred Nucara is expecting about $5 million for the asset. Based on the asset’s annual rental return of $510,000, that would equate to a yield of about 10 per cent.
