Investors and owner-occupiers continue to pursue highly-accessible properties on main road locations, with a second vacant Keilor Road, Niddrie office/warehouse selling for a strong result in quick succession.
Fitzroys’ Marco Sandrin and Brent Glassford sold 609 Keilor Road for $2.4 million prior to auction on behalf of a local owner-occupier/investor.
A community group is the purchaser and will use the property for their operations and office space.
The 474sqm office and office/warehouse building with showroom space is on a 584sqm site zoned Industrial 3 with on-site parking.
It is located on high-profile Keilor Road, Niddrie and boasts exceptional exposure and immediate access to the Calder Freeway, M80 Ring Road, Hume and Tullamarine Freeways.
“Owner-occupiers looking for a high-exposure main road location with excellent accessibility aggressively pursued this property, which led to a very strong and successful offer being made prior to the scheduled auction,” Sandrin said, adding the property’s layout of office, showroom and warehouse spaces was also a key attraction for the eventual purchaser.
Glassford said investors were also prominent in the enquiry.
“Investors were confident in finding a quality tenant for the property given its location and accessibility, while there remains a severe stock shortage in the market and vacancies are at historic lows.
“We continue to see ultra-competitive campaigns for vacant properties given the depth of enquiry.”
The sale follows Sandrin and Glassford’s recent sale of the nearby 563 Keilor Road property, on behalf of the previous owner-occupier, for $2.405 million. The 440sqm office and clear span warehouse - also offered with vacant possession and also on a zoned Industrial 3 with on-site parking - sold to another owner-occupier after similarly strong competition between owner-occupiers and investors.