Melbourne yoghurt factory collects $17.5m
EXCLUSIVE
A sophisticated Melbourne manufacturing plant leased to yoghurt maker Chobani has traded for $17.5 million.
The result for 453-455 Hammond Road, Dandenong South, from a high net worth Middle East based investor, will reflect a 4.6 per cent net passing yield upon settlement.
Spreading 1.5 hectares zoned Industrial 1, it contains 6438 square metres in several buildings, all up covering 43pc.
The offices are A-grade.
Chobani is into a 16 year lease expiring in 2037 when it has a 10 year option.
As well as outgoings including single holding land tax, it pays property maintenance.
The group also occupies an 8.74ha holding abutting 453-455 Hammond Rd, on Quality Drive.
In 2018, Chobani leased a standalone office/warehouse in neighbouring Dandenong; containing 1952 sqm, starting annual rent was just over $176,000 (story continues below).
Dandenong South is about 31 kilometres south east of Melbourne’s CBD.
Chobani ingrains in the south east
Chobani, which turns 20 in March, is headquartered in New York.
Last December it paid A$1.4 billion for La Colombe Coffee Roasters, giving it an in to the lucrative cold coffee market.
Facey Property’s Matt O’Dea and Adam Martin listed the Hammond Rd property in June.
Jones Real Estate’s Paul Jones and Dan Hannebery acted for the buyer.
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