Mirabella family buys Knoxfield investment
Arrow Capital Partners has sold an east Melbourne office/warehouse held four and a half years.
The Knoxfield investment, 11 Kingston Park Court, fetched $12.3 million following an expressions of interest campaign closing September.
It paid $8.09m.
The buyer is the Mirabella family, owner of the lighting group.
11 Kingston Park Court
Leased to BT Equipment Hire, trading as 600 Cranes, a subsidiary of Tutt Bryant, the Knoxfield asset contains a 4150 square metre office/warehouse.
It covers 56 per cent of the 7500 sqm site, a holding from Stud Road.
The deal comes four years since Learning With Technologies paid $8.7m for an office/warehouse on 6980 sqm, next door, to trade from.
Stihl and Sopura are other owner occupiers in the immediate area.
Cushman & Wakefield’s Adrian Rowse, Chris Jones and Charlie Holmes represented Arrow.
Knoxfield is about 27 kilometres from town.
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