Owner occupier snaps up land with holding income

April 20, 2011 | Industrial | Commercial

Almost 10,000sqm of land zoned Business 3 with holding income on Browns Road in Noble Park has been sold after auction for $2.725 million to a local owner occupier.

148-152 Browns Road, Noble Park, was sold by Colliers International’s Colin Tarlamis and David Kalb on behalf of the vendor, East Union Pty Ltd on a yield of 8.66 per cent.

The 9,707sq m property included a 3,588sqm high clearance dado construction office/ warehouse on a corner site, featuring multiple rollers and a large concrete hardstand, on a total land area of around 9,707sq m.

The auction was part of the Colliers International Autumn Auction Week.

With a lease in place to RJ Nuss Removals Pty Ltd until July 2012, Mr Talarmis said the property represented an excellent opportunity for buyers to secure a guaranteed income stream while any plans for refurbishment or occupation are finalised.

“The building features a functional design with high clearance and good loading facilities, making it ideal for an owner occupier, or alternatively the location also made it an ideal land bank opportunity,” Mr Talarmis said.

For further information please contact:

Phoebe Miller, PR & Communications Manager

T:  +61 3 9612 8815 | M: +61 402 547 484

E:  phoebe.miller@colliers.com

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