Owner Occupiers Show Interest in the Banco Gated Industrial Estate

Located in the former Simplot site, home to the iconic Four and Twenty Pies, developed by Banco some 15 years ago into a boutique gated industrial estate, 2 McLennan Drive, Kensington sold through a private sale campaign. The 300sqm building with two on site carparks occupied by a short-term tenant returning $36,508 pa sold to an owner occupier on a sharp yield of 3.8% on a building rate of $ 3,133 sqm. Dean Alexander of Gorman Commercial commented, “The campaign generated a lot of enquiry particularly from the owner occupier market. The property was sold to a local investor for $940,000.”