Emit Skincare pays $1, 030,000 for tenanted Albion site and its future refurbishment potential

by admin | 21st January 2011

Emit Skincare has paid $1,030,000 for a 404m2 office/warehouse with showroom potential at 45 Crosby Road, Albion. King & Co agent Jane Turnbull handled the transaction, while the vendor is undisclosed

Located on 395m2 of Light Industry zoned land, this freestanding property features masonry construction, a corner position with good exposure, two roller doors, full amenities and off street parking

The new owner bought the site contingent on its tenant, Inten Shop Fitting P/L,taking up its 3 year option, after which it will be converted into a factory/showroom for the owner, a manufacturer and distributor of topical anti-aging products. The rental return will be approximately $63,000 pa

According to Mary-Louise Condon of Emit, the Òcompany, which now operates in Windsor, made the decision to buy here because  of Albion’s future as an up and coming suburb, as well as being nearer where I live.

Turnbull adds that Albion still lacks quality stock for sale and whatever comes onto the market is snapped up, particularly if it’s able to be redeveloped. As might be expected, many of these transactions were based on the assumption that once the area commences its mooted makeover in a few years time prices are sure to go up, a choice, however, that’s also impacted by the heftier infrastructure charges that are expected

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