Huge Interest in Vacant Industrial Property

Following a market campaign that commenced a week before Victoria’s sixth lockdown, Gorman Commercial successfully sold 14 Acheson Place, Coburg North via a competitive online auction. The older style warehouse building of 360 sqm on an Industrial 3 zoned land area of 590 sqm was offered with vacant possession. The campaign generated around 100 enquiries and with 18 online registered bidders, the online auction was very competitive with the property selling for $845,000 to a local owner occupier on a building rate of $2,347 sqm . The property was marketed by Dean Alexander and Stephen Gorman of Gorman Commercial on behalf of a long term investor. “The huge interest in this vacant industrial property demonstrates the strong appetite for sub-million dollar industrial properties from both owner occupiers and investors,” commented Dean Alexander.