Lots 14, 15 & 16, 10 Jersey Road, Bayswater, 27km east of Melbourne’s CBD, has been scooped up by a local investor for $3.75 million. The sale marks a building rate of $1,132 and a 5.48% yield.
This single level brick office/warehouse with multiple roller door access and rear yard, together with over 40 car spaces sold subject to a lease to Australian Spa Covers at $192,000 per annum.
The substantial industrial factory has a total building area of 3,314sqm sitting on a total land area of 5,000sqm, well located on the busy Jersey Road, a main link road between Barry Street and Mountain Highway just 150 metres away.
CVA Property Consultants’ Ian Angelico and Stan Dawidowski managed the sale in conjunction with Nick Draffin of Applebys.
Mr Angelico stated that “This great sale result demonstrates the strength and demand for industrial property in the central Bayswater industrial precinct.”
