Investor buys chunk of Melbourne street
A local investor has snapped up an industrial portfolio spanning much of a street in Melbourne’s north.
The Dream Haven Portfolio in Epping comprises six tenancies across five titles, set it back $47.75 million.
On a combined 4.88 hectares it contains 27,539 square metres of improvements.
It was offered by an investor and developer that had assembled and developed the holding over several decades.
Collecting $2.894m annual net rent, the deal reflects a 6.1 per cent yield.
Fitzroys’ Marco Sandrin and Brent Glassford were the agents.
Dream Haven portfolio
The Epping properties are predominantly tenanted to manufacturers and industrial businesses, including All About Steel, D2 Steel, Cooling Brothers, Convair Engineering, Creative Composites and K Care Healthcare Solution.
The weighted average lease expiry is 2.83 years (continues below).
“We received five Expressions of Interest bids, which has left some $180 million in capital on the table that is actively pursuing Melbourne commercial real estate opportunities,” Mr Sandrin said.
“Buyer sentiment is improving and we expect that trend to continue throughout the final quarter of 2026,” according to the executive.
Mr Glassford added “passive income from quality tenants, rental reversion upside, value add propositions and a critical landholding in Melbourne’s ‘CBD of the north’ made this a remarkably attractive investment for the purchaser”.
Epping is 20 kilometres from the CBD.
Also this week realestatesource.com.au reported Forza Capital sold the suburb’s Epping Home & Life homemaker centre.
More to come.
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