Underutilised industrial investment fetches $10m
A modern industrial investment, with the building covering a low 38 per cent of the block, in an outer south east Melbourne growth corridor, has traded for c$10 million.
The speculated result for 5 Link Road, Pakenham, would reflect a 5.06 per cent net passing yield.
It would also demonstrate an impressive short term capital gain for the vendor which paid $8.15m in September, 2021.
The deal comes two months since we reported McColl’s Transport leased just over an acre of hardstand in the suburb, next to one of its facilities, for parking.
Short WALE
Ten per cent of the 3556 square metre Link Rd property is configured with offices.
The warehouse is accessed from seven motorised roller doors, part protected by a 1544 sqm canopy.
The 9278 sqm zoned Industrial 1 site, with 71 metres road frontage, a wash bay and 53 car parks, is fully fenced.
It also offers full drive around access to the building.
HFH Auto Group Parts is on a lease expiring in September, 2026.
The agreement also sees it pick up outgoings.
Jones Real Estate’s Mimi Hoang and Paul Jones were the agents.
Pakenham is about 53 kilometres from town.
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