Sector sells Ringwood VicRoads testing centre for $9.3m, lists Huntingdale office/warehouse

Sector Property Group has sold a Ringwood office after snaring a pre-commitment from VicRoads.

Under construction abutting Eastlink, 93A Heatherdale Road (artist’s impression, top) is trading to a Chinese buyer for $9.3 million following a deal negotiated by Savills’ Jesse Radisich and Benson Zhou.

Based on the starting net rent ($469,580), the disposal was struck on a five per cent yield.

VicRoads’ lease is for 12 years.

The occupier will soon relocate its headquarters from Kew to a QIC office at Ringwood, near 93A Heatherdale Rd.

The self-storage focused diversified developer last year sold an unbuilt Mitcham childcare centre for $7.1m – reflecting a 7.6pc yield – following another Savills campaign (story continues below).

Sector shelves Huntingdale redevelopment plan, lists site

Sector also this week listed Huntingdale’s former Acoustic Engineering Services headquarters, in Huntingdale.

Also this month Sector listed for sale a 3612 sqm Industrial 1 zoned Huntingdale site containing a c3575 sqm office/warehouse (pictured right and bottom).

At 26-28 Hargreaves St, CBRE and Colliers are marketing the former Acoustic Engineering Services’ headquarters via a lengthy expressions of interest campaign (closing on November 25 or in eight weeks).

The vendor had earmarked it for a major refurbishment which could have created two large warehouses fronting Hargreaves St and strata office suites off Shafton.

Huntingdale is about 16 kilometres south east of Melbourne. Ringwood is 23km east.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco