Goodman banks $63m from Melbourne site
EXCLUSIVE
Goodman has turned an impressive profit selling the ex-Hella headquarters, in Melbourne, after seven years.
Veres Property is the buyer of 54-76 Southern Road, Mentone, for $62.7 million, following an off-market deal.
A business park with c30,000 square metres in some 30 tenancies is planned for the 6.25 hectare block.
Coincidentally, the developer just razed c32,000 sqm of older style warehouses on the site – the bulk, 25,000 sqm, in two improvements.
Also this week, we are reporting Goodman sold a Smithfield, Sydney, industrial estate to Barings, for $75m. The pair also traded a portfolio of 12 assets in March worth $760m.
Dexus just sold a Sydney industrial investment too, for $77.5m.
Goodman sheds another site
Goodman paid $27.48m for the Mentone property – also securing Hella as tenant to an 8000 sqm distribution centre at the Chifley industrial estate, in neighbouring Moorabbin (continues below).
The German car parts supplier had occupied 54-76 Southern Road since 1961.
It also manufactured there until the year it sold.
CBRE’s David Aiello and Sasan Misaghian brokered the on sale.
The deal comes seven months since we reported Goodman snapped up an Epping industrial site, permit-ready for a 700,000 sqm estate.
With about 118ha of developable land, that parcel was speculated to be costing c$140m.
Also in May, the investor and developer acquired the 57ha Gibson Island in Brisbane’s Murarrie – outlaying nearly $200m.
Not long earlier Goodman doubled the size of a Minto, Sydney, business park, picking up a 11.2ha piece of Qube’s intermodal estate, again for about $200m.
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