68-70 Fairbank Road, Clayton South
Older-style brick warehouses in established industrial areas continue to be popular with owner occupiers and investors. This has again been shown with the sale of a 775sqm corner warehouse and café at 68-70 Fairbank Road for $1.17 million.
Marketed by Sales and Leasing Executive David Garfield of Nixon Industrial, the Industrial 1 zoned property is currently leased on a monthly basis, and was sold on a yield of 5.1%. The property provides options and flexibility to the new owner, and includes several off-street car spaces at the front, and rear laneway access.
Mr Garfield says, “The front café currently provides good cash flow, while the rear warehouse with several roller doors potentially allows for multiple tenancies if needed. Being so close to Westall Road and the Dingley and Dandenong Bypasses, this is a great property in a popular industrial area.”