Julliard divests west Melbourne warehouse
John Stubbe’s Tatong Holdings has another west Melbourne industrial investment to its book.
The 2.97 hectare holding, 111-125 Cherry Lane, Laverton North, cost $24.55 million.
Vendor, Julliard Group, paid $6.48m in 1997.
The disposal was managed by Cushman & Wakefield’s Chris Jones, Charlie Holmes, Tony Iuliano and Adrian Rowse.
Tatong’s portfolio incudes two more Laverton North industrial investments – 47-49 Agosta Drive and 14 Patch Circuit – the latter purchased nine months ago.
It also holds major warehouses in Truganina and Derrimut.
Laverton North is about 18 kilometres from the CBD.
111-125 Cherry Lane
A 9166 square metre office/warehouse occupies 31 per cent of the site.
Leased to Ron Crouch Transport, the weighted average lease expiry by income is 1.4 years.
“This transaction reflects the market’s appetite for well located, reversionary assets with strong underlying fundamentals,” Mr Jones said.
“The buyer recognised the opportunity to capitalise on the rental uplift and long-term locational strength of Laverton North,” he added.
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