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Posted on 27 May 2010

A Melbourne based buyer has paid $1.68 million at auction for a showroom in Mitcham, in the city's east, which is leased to ASX-listed Crane Group Limited. The property at 656-660 Whitehorse Road has a 780 square metre showroom warehouse with 12 car spaces. Crane Group holds a five year lease expiring in June 2013, and the sale price reflected a 6.7 per cent yield. Vinci Carbone Property director Joseph Carbone said there were six bidders and 40 enquiries during the campaign