Not for profit buys slice of ex-Kraft HQ
The Multicultural Youth Group has expanded its significant Broadmeadows footprint.
The not for profit has paid c$12 million for another part of the ex-Kraft headquarters and manufacturing plant at 95-97 Riggall Street.
Spanning 1.83 hectares zoned Commercial 2, also exposed to Kraft Court, it contains a 12,384 square metre office/warehouse with significant internal cold storage infrastructure.
Colliers’ Billy Kanakis and Nick O’Brien with NSL Property Group’s Guy Naselli were the agents; an expressions of interest campaign closed less than three weeks ago.
CMY buys more of Kraft site
Kraft moved production offshore before in 2007 selling what was a 10ha Broadmeadows headquarters to Kay & Burton owner Gerald Delany, who shortly after subdivided it as 25 lots and created Kraft Ct.
The MYC holds numerous of them, most on the south side of Kraft Ct, opposite the property it just bought (continues below).
One operates as a mosque, another part, a childcare centre.
“Positioned within one of Melbourne’s most tightly held northern industrial precincts, the substantial infill landholding attracted strong interest throughout the campaign driven by its scale, strategic location, dual street frontages and flexible future potential,” the agents said.
“The property’s rich industrial history combined with its significant landholding and established improvements presented a rare opportunity for owner-occupiers, investors and developers seeking a foothold in Melbourne’s highly sought after northern corridor,” they added.
Broadmeadows is about 15 kilometres north of Melbourne’s CBD.
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