Sprawling Melbourne industrial site trades for $19m
A sprawling industrial investment beside Merri Creek, in Melbourne’s north, has sold for $19 million.
Leased to SPARK Trawalla Logistics Yard, but only until the end of next year, 121 Trawalla Avenue, Thomastown, previously traded in January, 2023, for $15.15m.
On 3.88 hectares it includes a 4047 square metre warehouse covering 13 per cent of the block.
The campaign targeted industrial outdoor storage investors, including syndicates, which have taken to the fast-growing sector.
121 Trawalla Avenue
The improvement contains three heavy-duty cranes ranging from 12 to 25 tonnes.
The sale was struck at a 5.58 per cent passing yield.
Colliers’ Mitch Purcell, Daniel Telling, Billy Kanakis, Nick O’Brien and Sean Thomson with Commercial Property Sales’ Shaun Marijanovic were the agents (continues below).
It is the latest in a run of Melbourne industrial outdoor storage-related deals.
In May, realestatesource.com.au reported Kinkora Investments paid $32m for 642-658 Footscray Road, West Melbourne – a 2.78ha site occupied by L Arthur Transport Services.
The month earlier we reported it outlaid $64.2m for 122A Dohertys Road, Laverton North, under a $500m mandate backed by Starwood Capital.
That 12ha property was offered with a short leaseback to Holcim.
Thomastown is about 15 kilometres from town.
Subscribe to our newsletter at the bottom of this page.
