Glicks Bakery directors have sold the company’s Clayton South headquarters – which also includes a manufacturing plant and distribution centre – to another owner-occupier.
The speculated $12 million-plus deal for 37-53 Whiteside Road was negotiated off-market by Barry Plant’s Benjamin Klein with Crabtrees Real Estate’s Andrew Louden and Chris McKenzie, all who declined to comment on parties or price.
Of the campaign however, Mr McKenzie said the transaction “is reflective of the current market with many owner-occupiers finding it difficult to find large facilities, therefore willing to purchase older [ones] to refurbish or redevelop to meet their requirements”.
The Clayton South property spreads 1.76 hectares with a 7680 sqm office/warehouse.
The incoming owner is interstate based.
“The purchaser and I have been working together for a couple of years with very specific requirements to find the right facility and location,” Mr Loudon added.
“This [Melbourne] facility allows them further expansion on a national scale” (story continues below).
Glicks is now looking for a replacement property in the area.
Elsewhere in the suburb, four months ago, MPM sold a 1.4ha Fairbank Rd industrial investment with a 6625 sqm warehouse, and seven year leaseback, for $10.4m.
In March, wellness brand BWX pre-committed to a 17,663 sqm office/warehouse set to be developed by ESR on a 6.45ha McNaughton Rd, Clayton, block it picked up for $34.71m in 2019.
The Whiteside Rd deal comes eight years since Glicks sold its former Carnegie headquarters – on 4147 sqm at 1056-1060 Dandenong Road – as a permit-ready development site, for $9.4m, or about 20 per cent over guide.
Builders have just completed that tower.