Expectations exceeded by Brunswick building
A factory and warehouse property with office space in Brunswick, Victoria, has been sold at auction by agents of ICR Property Group.
The building at 23-25 Tinning Street, Brunswick, was sold with vacant possession on a 90-day settlement.
ICR Property Group agent, Raff De Luise marketed the property, which achieved a final selling price at auction of $1.455 million.
According to Property Information Monitor, a sale price of $1.1 million to $1.2 million was expected by the agents prior to auction.
The 1650 sqm building is situated on a 980 sqm Industrial 1-zoned site with 11 undercover car parking spaces, and achieved values from the sale of $882/sqm for the building and $1485/sqm for the land.
Australian Property Review – Friday, October 2010