May, 2015: Rare, substantial warehouse/distribution centre sold to boutique fund manager for just over $10 million.
The property is in Cambellfield, a mixed industrial/residential suburb 16 kms north of Melbourne’s CBD.
Leased to a single international corporate tenant, the building comprises 11,000 square metres including the offices, with loading from four sides, 12 container-height roller doors and two separate buildings, one of which is completely column free with a clearspace of 52 metres.
Commenting on the sale, Robert Stanley-Turner from Box Commercial Estate Agents said, ‘Cambellfield is an ideal location for a distribution centre because it has easy CBD access, easy Hume Highway access, easy Tullamarine airport access, and easy Port of Melbourne access.’
Melbourne-based Box Commercial consults to property syndicators across Australia, monitors sales and trends in group investments and refers individual investors to investor groups.
Mr Stanley-Turner also said that global companies and Australian exporters were were looking for fast and easy access to a major population centre and a north/south highway
‘It’s not that easy to find good-sized warehouses, complete with offices, with serious clearspan and large canopy areas, thoughtful design to facilitate loading, and warehouse space of around 10,000 square metres,’ Mr Stanley-Turner said. ‘The fund manager has done a great job in tailoring an investment that would appeal to wholesale investors like self-managed super funds.’
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