Knoxfield Office Warehouse Sells For $8.2 Million – realestatesource https://www.realestatesource.com.au Commercial and residential property news Tue, 30 Oct 2007 08:52:28 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Knoxfield Office Warehouse Sells For $8.2 Million – realestatesource https://www.realestatesource.com.au 32 32 Knoxfield Office Warehouse Sells For $8.2 Million https://www.realestatesource.com.au/knoxfield-office-warehouse-sells-for-82-million/ Tue, 30 Oct 2007 08:52:28 +0000 http://realestatesource.com.au/wordpress/knoxfield-office-warehouse-sells-for-82-million.html A Knoxfield office and warehouse building, on a massive 1.4-hectare block of land near an Eastlink Motorway exit sold to a private investor for $8.2 million, on a passing yield of 7.7 per cent.

]]> A 6074 square metre building on the site is leased to PFD Food Services until May 2008. The national food supplier and distributor has three further options over the building which could see it stay until 2023.

Colliers International director Tony Iuliano who sold the property at 2 Millennium Court, said PFD’s office warehouse only occupies about 42 per cent of the overall site, giving the new owner the opportunity to develop another building at some time in the future.

The Knoxfield office and industrial market has become increasingly popular with investors, confident the nearby Ferntree Gully Road connection to Eastlink will always attract interest from distribution-based industry.

Eastlink is currently under construction and due for completion next year.

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