New Hoppers Crossing warehouse trades off-market
An investor has quietly purchased an office/warehouse built in place of seven small industrial units, in Melbourne’s Hoppers Crossing.
The result for 25-27 Horne Street – $6.8 million – reflects a 5.1 per cent net passing yield.
It is also a windfall for the seller which paid $2.95m for the 3429 sqm block in mid-2022.
At the time the rectangle block was permit ready for seven office/warehouse shells and a café.
Instead, it was replaced with a 2256 sqm complex with double storey A-grade office, and rented to a national tenant.
“After successfully leasing the facility, JLL secured a motivated investor off-market,” selling agent Edyn Sibbald, who brokered the deal with Ilia Karageorgiou and Luke Dunstan, said.
Hoppers Crossing is 26 kilometres west of town.
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