Trilogy Funds has sold a modern Ravenhall office held for eight years.
The three storey building at 271-279 Robinsons Road, on the north west corner of Riding Boundary, within the Orbital Business Park, has fetched $13.001 million, reflecting a 7.25 per cent yield.
The buyer is a private investor, also based interstate.
Quinn Reynolds’ Marcus Quinn and Lincoln Reynolds with Savills’ Julian Heatherich, Benson Zhou and Nick Garoni were the agents.
Trilogy unsuccessfully tried to sell the property in 2018.
Sold for over book value
Developed by Pellicano in 2010, the Ravenhall office, also known as 275 Robinsons Rd, contains 3124 square metres of A-grade area.
Fruit and vegetable giant Costa occupies about 80pc as its headquarters on a lease expiring next year (story continues below).
Royal District Nursing rents the balance until 2024.
On 8291 sqm, the asset also contains 236 car parks – a mix of open-air and undercover.
Trilogy paid $8.95m then held the property in the Ravenhall Office Trust.
The investment was valued mid last year at $12.6m.
Ravenhall is about 21 kilometres west of Melbourne.
Subscribe to our newsletter at the bottom of this page.