Crabtrees Real Estate Senior Executive Rodney King and Director Gavin Dumas have sold a substantial industrial site off market for $13,225,000 known as 8-20 King Street, Oakleigh.
Previously the home of Victorian Sheriff’s offices, the site comprised a total land area of 1.375 HA with three (3) street frontages, several short term leases and is located only a short walk to the Oakleigh Central Shopping Centre, Train Station and renowned Eaton Mall.
Crabtrees Director Gavin Dumas noted that “The confidential purchaser acted decisively during the midst of the COVID-19 panic to secure the property, having the vision to see through the current circumstances and to understand the value of such a prized location.”
Crabtrees Senior Executive Rodney King added “The Purchaser is well credentialled and experienced investor / developer that plans to redevelop parts of the site in a staged manner as leases expire and to cater for demand.’
“We are excited for the proposed product to hit the market in due course as the gentrification of Oakleigh continues into the future and people understand it is one of the most easily accessible inner city industrial & commercial locations benefiting from fantastic amenity and road and transport links”. Said King.
The Vendor was a private Hong Kong based investor that Crabtrees Real Estate has looked after for more than a decade and the purchaser a confidential joint venture group.
For more details please contact Crabtrees Real Estate Senior Executive Rodney King 0422 839 870 and Director Gavin Dumas 0411 878 423.