Murrumbeena Commercial Building Snapped Up

A commercial building at Murrumbeena in Melbourne’s south-eastern suburbs has been sold by Ray White Commercial Oakleigh for $1,075,000.

The property with a building area of approximately 288 sqm at 1198 Dandenong Road, Murrumbeena, was sold as a vacant possession to a local business operator by Paul Rizzo and Ryan Amler of Ray White Commercial Oakleigh on behalf of a private owner.

Mr Rizzo said the building with main road frontage was originally offered for lease.

“Through conducting an inspection with prospective tenants, it was suggested if the owners invest in getting this property fitted out to their standards they would consider purchasing,” he said.

“The vendor had been reluctant to sell but was prepared to consider the right offer.

“A neighbouring business owner was approached and agreed to purchase the building for well over market price at $1,075,000.”

Mr Amler said the building includes an approximately 56 sqm first floor office/caretakers residence and has front and rear roller doors and rear lane access.

“The property is zoned ‘Business 3’ and has exceptional signage rights subject to council approval,” he said.