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Portside Property Scooped Up For $2 Million

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A portside commercial property has sold for $2.05 million at auction to a local occupier.

CBRE’s Guy Naselli and Harry Kalaitzis handled the sale of 2 Westside Avenue in Port Melbourne on behalf of a private vendor.

The 793sqm property comprises a 483sqm two level corporate office and a clear span high clearance warehouse with container height roller shutter doors.

Mr Naselli said the property represented an outstanding opportunity to owner occupy a rare freehold within the tightly held Port Melbourne commercial precinct.

ALSO SEE: Cromwell offloads South Melbourne Asset

“The sale represented the first office warehouse sale within the Portside Business Park in almost five years,” Mr Kalaitzis said.

“Transacting at a rate of $2,600 per square metre, this was a particularly strong sales result for the portside suburb.”

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Article originally posted at: https://https://theurbandeveloper.com/articles/portside-property-scooped-2-million