A sizeable Cardiff industrial strata unit being offered for sale with vacant possession is expected to attract interest from owner-occupiers, according to Raine and Horne Commercial’s Alan Tonks.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Mr Tonks is marketing Lot 2 at 69 Munibung Road, which is set for auction on March 7. He said it offered good visibility and potential for future growth.
“The big selling point is that the continuation of Munibung Road through to Bunnings at Boolaroo is going to happen eventually,” Mr Tonks said.
“Once extended, I predict rents in Munibung Road will double because it will become a major arterial road with high traffic flow.
“Some of those old industrial buildings will be converted to more modern showrooms and it will be a second life for Munibung Road properties at much higher rentals and increased property values.
“We saw this happen years ago out at Hillsborough Road where the old rents and subsequent values increased dramatically.”
The 666 square metre unit features a new showroom office component plus new amenities. It has seven dedicated car spaces. A price guide has not been disclosed.
NEW DEVELOPMENT
Global Commercial’s Reece Harrison and Warren Plumb of Plumb Realty are marketing a 12-unit strata title development at Lot 101 Riverside Drive in Mayfield West’s Steel River Estate.
Mr Harrison said the asking price on units was $2250 per square metre and the development was under construction by local commercial builder Williams River Steel.
“It’s in the latest release of land in Steel River, so it’s the next stage of lots available in that estate,” Mr Harrison said.
Units are a mix of pre-cast and metal construction with standard roller door access and range from 132 to 265 square metres in size.
