A large industrial property comprising two lots in Melbourne’s Tullamarine was sold at auction yesterday for $1.9 million by Gray Johnson.
The lots have existing large older style buildings on it and had a quoted auction reserve of $1.5 million.
The purchaser was a local owner-occupier.
Located at 1 and 3 Prima Court, the properties are only one block from the Sharps Road and Tullamarine Park Drive intersection.
No 1 Prima Court comprises a land area of 4,430 sqm with an older style industrial building of 800 sqm with adjoining concrete hardstand.
No.3 Prima Court is 4,530 sqm in area also with a building of 1,170 sqm of similar style, but with an administration office attached.
Both lots are zoned Industrial 1 and have approximately 50 metre frontages to Prima Court.
Gray Johnson selling agent Simon Woodman said that both properties were offered for auction as a whole with the vendor retaining the right to offer the two lots separately if not sold initially.
“With very strong bidding the property was sold as a whole to a nearby owner occupier for $1.9 million.
“The buildings have been tenanted until recently by a major bus company for garaging and servicing and the company is relocating to its own purpose built new complex in Bundoora.
“Prima Court is one of the original commercial development areas of Tullamarine dating back to the 1980s and the site is adjoined by major industrial complexes with a large cold storage and foodstuff distribution complex on the adjacent site,” Woodman said.
By Adam Parsons