Civilmart manufacturing plant sold
Baron Vanilla Asset Management has picked up a four year old manufacturing plant built by occupier Rocla, which was later acquired by Civilmart.
The Wodonga complex, 33 Kiewa Valley Highway, Bandiana, cost $14.71 million – a 7.2 per cent net passing yield.
On 6.9 hectares, with a 12,482 square metre of improvements, the tenant is committed until 2031 or 2071 with options.
Occupier sale
Rocla Properties paid $3.68m for the land which made way for the manufacturing plant in mid-2021.
“Albury-Wodonga has rapidly emerged as a regional industrial powerhouse,” Justin Kramersh of Burgess Rawson, in the process of being bought by CBRE, who brokered the deal with Dixon Commercial’s Andrew Dixon, said.
“With a robust infrastructure pipeline, projected population growth of 38 per cent, and a diverse industrial economy, it’s become one of Australia’s most appealing investment destinations outside the capital cities,” he added.
Baron Vanilla will hold the property in the BV Industrial Trust No 2.
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