Cadence spends $14m on former Spotswood animal quarantine station

The Spotswood Animal Quarantine Station was based at 43 Craig Street from the 1950s until last December, when operations were relocated to a Mickleham facility.

EXCLUSIVE

Charlie Buxton’s Cadence Property Group has purchased the Spotswood Animal Quarantine Station for $14 million.

The 3.8 hectare site at 43 Craig Street was occupied by the federal government’s Australian Quarantine and Inspection Service from the 1950s until eight months ago when operations were relocated to a 144ha Mickleham facility, in Melbourne’s north.

Glyn Bosisto and Tom Davis of Bosisto Commercial represented a syndicate which has owned the western suburb investment since the 1990s.

The agents said the facility, on land zoned Industrial 1, typically held 1100 dogs, 650 cats and 500 birds a year.

It is now earmarked for redevelopment.

Busy period for Spotswood deals, developments

Cadence’s new site is opposite Scienceworks – a museum built into the brick walls of a former major pumping station (story continues below).

Last month we reported Charter Hall acquired an industrial investment at 21 Simcock Avenue, also across the road from that site.

Coincidentally that occupier, Owens-Illinois Australia, and Cadence have a relationship co-developing other land in Spotswood. The builder recently constructed the glass maker a Penrith warehouse, too (which Charter Hall also bought, for $88m).

In 2017, a consortium sold 20-42 Simcock Ave – the former Cootes Transport Spotswood terminal, on 1.56ha – for $6.5m.

That facility is now occupied by Toll but expected to be developed as a business park in the medium term.

Spotswood is about six kilometres from the city, on the opposite side of the Yarra River to Port Melbourne.

In May, Mr Buxton’s company co-purchased Sunshine North’s City West Plaza – about 10 kms north west of 43 Craig Rd.

Last year Cadence sold down a Mill Park industrial asset for $15.25m after paying less than half 13 months earlier for what was an unrenovated and soon-to-be largely vacant property.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco