Food factory at Dandenong sold for $550,000

A food factory investment opportunity at Dandenong in Melbourne’s south-east has been sold by Ray White Commercial.

Its $550,000 price reflected a 7.2% yield.

The property leased to Z & W Group (Aust) Pty Ltd at 1/23 Egan Road, Dandenong, was sold to a private investor.

Ray White Commercial Oakleigh’s Ryan Amler said the tenant commenced a three-year lease with a further three-year option in May, 2016, and the property returns net rental of $39,600 per annum.

The property has a building area of approximately 310 square metres and is equipped with freezers, a cool room and other plant and equipment valued at more than $250,000.

“This is a fully equipped food factory that enjoys easy access to major arterials including EastLink and the Princes Highway,” Amler said.