Transform Church has paid $1.67 million for an office/warehouse (pictured, top) at Truganina’s Agar Estate, about 22 kilometres west of the Melbourne CBD.
Agar, beside the Western Freeway, is under construction.
Nine buildings forming the estate, ranging in size between 1050 square metres and 2575 sqm, sold off-the-plan three months prior to the anticipated project completion.
Bosisto Commercial’s Glyn Bosisto and Tom Davis with CBRE’s Fergus Pragnell and Ricardo Cappelletti represented the developers, Citiwest Group and C3 Constructions, selling 88 Agar Drive to the church.
The agents said that only two traffic lights separate Agar from the Melbourne CBD. Three lights are between it and Melbourne Airport.
The Industrial 1 zoned business park is designed for 24/7 operation and modern supply chain operations.
The land is NBN-ready, they added.
Earlier this month we reported a tenanted investment within the estate at 94 Agar Drive sold for $1.75 million on a 6.4 per cent yield.