Sale and Two Leasing Deals in Norcal Road, Nunawading
Gorman Commercial is pleased to announce the successful sale and two leasing deals in the 41-49 Norcal Road, Nunawading Industrial Complex. Unit 30, 41-49 Norcal Road, Nunawading, a strata industrial unit leased to a floating floor importer was sold with a three year lease in place with a further option of three years. Returning $28,000 pa, the property sold for $750,000 showing a very sharp 3.7 % yield. The property was sold to a local investor. Gorman Commercial’s Dean Alexander said, “The private sale campaign generated strong interest from investors attracted to the resurgence and resilience of the industrial market.” Dean Alexander also leased units 34 & 56 in the complex with rental rates achieved ranging from $120 – $140 p/sqm.