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News release


Industrial gem sold in Airport West

99 and 99A Matthews Avenue

MELBOURNE, 31 OCTOBER 2012 – A private investor has purchased an industrial gem at 99 and 99A Matthews Avenue in Airport West for $1,010,000, reflecting a net yield of approximately 6.3%.

Robert Butera and Andrew Briffa of Jones Lang LaSalle, in conjunction with Bernard Corser of Corser Property sold the property under the hammer on behalf of ASL Securities.
Surrounded by national retailers, the property is located next to Westfield shopping centre with quick access to the Tullamarine Freeway. Zoned Business 2, the 1,022sqm site comprises a 308sqm building and is occupied by Greg Heffernan Motors on a 5 + 3 year lease, currently returning $63,000 pa net.
Mr Butera said, “The property was hotly contested due it its fantastic location opposite Essendon Fields, nestled among numerous national brands and its versatile zoning for future re-development.”
“Having great exposure to the Tullamarine Freeway was also a key selling point and this successful investor could see its real potential,” Mr Briffa added.