Tenant takes over in Reservoir
A factory warehouse property in Reservoir, Victoria, has been purchased at auction by its current tenant. Situated at 57 Plateau Road, Reservoir, the property attracted strong interest from owner occupiers and investors, with the majority of inquiry being generated from local interests.
ICR Property Group agent, Raff De Luise, marketed the property, which achieved a final selling price at auction of $1.23 million.
The current tenant of five Years, B & S Commercial Kitchen Appliances, purchased the factory warehouse following intense bidding at auction. The 2100 sqm building is set on a 3038 sqm site and was sold with 13 on-site car spaces.
Australian Property Review – Friday, November 27, 2009