Warehouse in Richmond achieves same rate as strata offices

33 Lincoln Street, Richmond

Stephen Gorman, from Gorman Commercial, believes we are very much in a bull market when warehouses are selling at the same rate as offices in Richmond.

In front of a sizeable crowd, a strata warehouse in Richmond sold at auction for an impressive $585,000.  Based on  116 sqm,  the sale price reflected over $5,000 per square metre, which is extraordinary in the fact that strata offices in Richmond are also achieving these rates per square metre and this is a simple warehouse with a roller door.  The crowd, including owner occupiers and investors, identified the versatile nature of the property, hence the strong competition that heralded such a strong result being sold to an owner occupier.