Two new tenants secured for Nexus Business Park
Two industrial units in the Nexus Business Park in Melbourne’s Mulgrave have been leased in deals overseen by CVA Property Consultants.
CVA’s John Nockles and Daniel Philip have negotiated leases for Unit 6 and Unit 18 in the business park.
Unit 6 has a building area of 479 square metres and was leased for $65,000 per annum. Unit 18 has a building area of 390 square metres and was leased for $55,000 per annum – resulting in an average per-square-metre rate of $140.
Mr Philip said both properties presented impressively and lately there had been high demand for presentation-conscious industrial properties around the Mulgrave area.
The company is also reporting the sale of an industrial warehouse in the suburb of Coburg North prior to auction for $1.725 million.
John Nockles and Seamus Bolst negotiated the sale at 10-12 Hocking Street, which resulted in a yield of 8.34 per cent.
The property is leased on a four-year term which started in August 2015 with an option of four years and 3 per cent annual increases to Entouragefoods.
It provides a current rental return of $144,000 per annum plus GST and outgoings.
“This result highlights yet again how strong the investment market is in the current interest rate climate,” Mr Nockles said.
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