Boardroom Auction Delivers Result 33% Over Reserve After Three Days on Market  

An industrial asset in Knoxfield has sold for $811,000, 33% over the vendor’s reserve, in a high energy boardroom auction after just three days on the market. Jones Real Estate had elected to hold a boardroom auction for the property after receiving a high level of interest with nine bidders placing a total of 52 bids on the day, highlighting continued demand for quality industrial assets in Melbourne’s east. 

“There’s strong demand for sub $1 million warehouses in Melbourne’s south-east, attracting both owner-occupiers and investors to this asset,” said Caleb Marchbank, Executive at Jones Real Estate. 

“Within 48 hours of launching the campaign, we received multiple contractual offers. To maximise the result, we moved to a boardroom auction with all interested buyers,” added Mimi Hoang, Manager at Jones Real Estate. 

The sale marked a strong debut for Jones Real Estate’s newest recruits, Caleb Marchbank and Mimi Hoang. A former Carlton Football Club defender and proud Benalla export, Marchbank is now carving out a new career in Melbourne’s commercial property sector. Hoang, having recently handed over her operations manager duties, has stepped into a full-time sales role, bringing three years of agency experience to the field. 

“Over the past year, Jones Real Estate has grown steadily with new talent joining the team, people who bring market intel and energy to our campaigns,” said Paul Jones, Managing Director of Jones Real Estate.  

“This result is a reflection of that depth and the trust we’ve built with buyers across the industrial market,” Jones added.  

Located in one of Knoxfield’s most tightly held industrial precincts, the property comprises a 164sqm* high-clearance warehouse, 191sqm* of office space and a 35sqm* mezzanine in a 355sqm* total building area. It was offered as a tenanted investment returning $34,611.20 per annum plus GST and outgoings.  

Key features include roller door access, a dedicated kitchenette and bathroom amenity, and flexible zoning under Industrial 1 (IN1Z), supporting a broad range of future uses (STCA). 

Positioned just 1.2km* from Ferntree Gully Road, 2km* from Burwood Highway and 4km* from Eastlink, the property also benefits from strong arterial connectivity. 

For more information, please visit: https://www.jonesrealestate.com.au.

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*All sizes and dimensions are approximate.