Savvy Melbourne investor Brendan Sullivan has almost doubled his money in 18 months with the sale of two industrial units at Vermont in Melbourne’s outer east for a combined $4.15 million. The sales were negotiated by CVA Daniel Philip and Stan Dawidowski.

The buildings, both part of an office/warehouse unit complex just off Canterbury Road, and a short drive from the Eastern Freeway and EastLink, comprise units 2 and 3 at 187-201 Rooks Road.

Unit 2, a recently refurbished, clear span, 735 square metre building, with seven metres clearance and eight on-site car spaces, sold to an owner-occupier with vacant possession for $2.15 million.

Unit 3, a 768 square metre building, also with seven metres clearance and eight on-site car spaces, was sold for $2 million to a private investor with a new five year lease at $91,000 per annum.

Mr Sullivan purchased the complex of five units in December 2019 for $5.85 million as a long term investment and recently completed some updates, however the recent surge in investor appetite for industrial assets resulted in significant off-market interest.

“I had purchased the complex fully intending to hold for the long term but after putting some units up for lease I was swamped with “do you want to sell” offers, from investors and owner-occupiers, at almost twice what I had paid.

“The demand for industrial property in established areas is absolutely huge and appears likely to maintain its new favoured status at least in the short to medium term,’’ Mr Sullivan said. 

Mr Sullivan has a reputation for successfully repositioning properties by acquiring assets below market value, refurbishing and re-presenting to the leasing market.

The sales were negotiated by CVAs’ Daniel Philip and Stan Dawidowski. 

To request a sales analysis please email either of the selling agents via the below contact forms.