Salta sells major Melbourne industrial investment
EXCLUSIVE
Salta Properties has sold a major warehouse in Melbourne’s west.
The 1.82 hectare property, 29-35 Taras Avenue, near the corner of Grieve Parade, Altona North, contains an 8811 square metre facility purpose built in 2017 for GUD Automotive, since rebranded Amotiv, for Ryco.
About 1200 sqm of the area is offices.
The tenant signed a five year lease before the asset was listed late last year.
Based on the net income, the speculated $22.1 million sale price to an undisclosed buyer reflects a 5.58 per cent yield.
Cushman & Wakefield’s Chris Jones and Charlie Holmes were the agents; the asset forms part of Salta’s CitiWest Industrial Park (continues below).
Altona North is about 10 kilometres west of the CBD.
Last June we reported Stockland sold two industrial investments in the suburb, part of the Altona Distribution Hub.
That outlay was a speculated c$73m.
Cadence was the buyer.
Not long earlier, Urban Logistics Co, backed by Wentworth Capital with BlackRock Alternatives, committed King Living to Target’s enormous ex-distribution centre in the suburb.
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