Farm Pride Foods has sold RF Corval its Keysborough headquarters, cold storage facility and distribution centre with a leaseback.
The deal for 551-579 Chandler Road is worth $18.5 million.
The egg retailer said it is committed to the site until 2036 at which stage it has a five year renewal option.
Based on the starting annual net rent – $1m – the transaction is being struck on a 5.4 per cent yield.
551-579 Chandler Road, Keysborough
Farm Pride Foods will use proceeds to reduce debt and provide working capital to drive business recovery and expand its cage free capacity (story continues below).
The Keysborough property spreads 2.14 hectares with 10,740 square metres of building area.
The suburb is about three kilometres west of Dandenong.
Last week, RF Corval, backed by ex-Multiplex chief Andrew Roberts, outlaid c$60m for two storeys of Melbourne’s landmark Eureka tower – including the Skydeck tourist attraction.
Not long earlier the group sold Charter Hall a Macquarie Park office for $55m.
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