Ringwood Investment Sold
A tenanted investment in the heart of the Ringwood business district in Melbourne’s eastern suburbs has been sold by Ray White Commercial.
The approximately 304 sqm property leased to Snap Printing at 3/64 Charter Street, Ringwood, was sold off-market for $692,000 to a local investor by Brett Diston of Ray White Commercial Vic-Nunawading on behalf of a private owner for a yield of 4.3 per cent.
“We found a buyer for this prime Investment securely leased to long standing tenant Snap printing through our database,” Brett Diston said.
“The property is leased for three years with a three year option and is returning net rental of approximately $30,000 per annum.”
Brett Diston said the premises were in the heart of Ringwood’s business district near corporate giants Bunnings, Costco, Coles and Eastland Shopping Centre.
“Ringwood is currently undergoing major growth with government infrastructure upgrades,” he said.