The asset came with a 368sq m* building area, comprised 193sq m* warehouse and 175sq m* office, and was bought by an owner-occupier.
The asset was marketed and sold by Ray White Commercial Glen Waverley Managing Director Ryan Trickey.
Mr Trickey said being in the industrial heart of Knoxville, with its strong road links, made the property particularly appealing to potential buyers.
“The industrial precinct of Knoxfield has served generations of industrial businesses because of its ability to meet all of their core needs; broad access roads, proximity to major arterials, and uninterrupted working space,” he said.
“Knoxfield’s reputation and perceived capital value is on the rise with the addition of the new business centre just up the road with Home Consortium joining McDonald’s and Bunning’s Warehouse, along with an 88-unit development.
“The City of Knox is seeing huge growth, with residential developments planned at Stamford Park and Waterlea, as well as extensions to Westfield Knox in the pipeline.
“Road access is great as the property is within a five-minute drive to Eastlink, Stud Road, Ferntree Gully Road, Scoresby Road, Burwood Highway and Dorset Road.
“The office has been constructed to a high standard to ensure longevity and suitability for future use, and has a ‘warm shell’ on entrance.
“The warehouse is a clean, open-plan concrete floor space with high clearance and clear roller door access, along with a more-closed area behind the office construction, which could easily be converted to storage/office.
“The three registered bidders appreciated the opportunity on offer and we successfully reached an outcome the vendor and one of the parties was happy with post-auction.”