Huntingdale Industrial Sold for $2.05 Million

11 April 2017

A local private investor has paid $1.15 million for 38 Shafton Street and $905,000 for 32 Hargreaves Street for a brand new office and warehouse dual occupancy, in Huntingdale in Melbourne’s south-east, destined for a self-managed super fund.

According to Savills Associate Director Daniel Kelly, who brokered the deal, the two units were 308 square metres each, with street frontage and secure on-site parking, built on a 1,388 square metre industrial 1 zoned site.

Mr Kelly said the brand new units were sold with three year leases at a total rental return of $118,000 per annum net plus GST and Outgoings.

He said the buyer had taken the opportunity to purchase in a favourable climate which included tax advantages available to SMSFs as well as low interest rates to purchasers. The two units were high quality and together on their own block of land, rather than a body corporate.

“Having the tenancies in place on new leases and the quality of the product coupled with substantial depreciation benefits is an easy fit for a self-managed super fund,” Mr Kelly said.

The vendor was a local developer.

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