Food processing plant fetches $32m for Nufarm
Nufarm – established by Max Fremder in 1956 absorbing another name, The New Zealand Farmers Fertiliser Company Limited, formed in 1913 – has sold another Laverton North site.
The 5.3 hectare soon to be vacated food processing plant covering 8-14 and 16-18 Hume Road collected $32 million.
Buyer, private entity, Binary, was represented by Thomson Geer’s Eu Ming Ling.
Majority cleared, the Industrial 2 zoned property is expected to be developed, possibly with an occupier in mind, according to sources.
The deal was sealed in June – less than three months since the close of an expressions of interest campaign.
Nufarm’s headquarters, 103-109 Pipe Rd, is next door.
In 2021, a 1.2ha industrial development site connected to both blocks – 66-70 Dohertys Road – traded for $5.5m including GST (story continues below).
XCommercial, the new name for Andrew and Stuart Macqueen’s Industry Property Group, were the agents.
The Hume Rd deal come eight years since Mr Fremder sold a 10 level office in the city’s Elizabeth St for $75m.
Co-owned with Ron Lazarovits, the former Australian Manufacturers Union headquarters cost them $28m in 2005.
Laverton North is about 18 kilometres west of Melbourne’s CBD.
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