Owner-Occupier Pays $2.3m for Mentone Industrial

A local owner-occupier has paid a healthy $2.3 million for an office/warehouse facility at Mentone on Melbourne’s south-eastern bayside in a deal brokered by Savills Australia’s Director David Kalb and Sasan Misaghian.

Ideally positioned within Mentone’s key industrial precinct, the 9-11 Shearson Crescent facility comprises a 1,726 square metre building, including a 465 square metre, two level, office component on a 2,160 square metre allotment with dual driveway access and a rear yard.

Mr Kalb said the property offered the opportunity to purchase a building type which was in limited supply in a coveted location with exceptional growth potential.

“Few buildings of this type and size have been available over the last 12 months and the very healthy price reflects that scarcity of opportunity.

“The purchaser was keen to acquire this type of building and was lucky enough to be able to purchase in exactly the right location,” Mr Kalb said.

He said the property generated a large number of enquiries from both owner-occupiers and investors.

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