Victorian car yard portfolio fetches $34.5m
A Plantation Capital managed fund has snapped up the third and last property in a portfolio of neighbouring regional Victorian car dealerships leased to Johannesburg listed Motus Holdings.
The two hectare holding, 5567 Princes Highway, Traralgon (pictured, top), cost Strategic Opportunities (Growth & Income) Fund $23.5 million – a 6.43 per cent net passing yield.
With 7773 square metres configured with showrooms, offices and service centres, it trades Isuzu, Mazda, Mitsubishi, Subaru and Volkswagen.
“Whilst most investors discounted the opportunity due to the short 2.8 year weighted average lease expiry, the substantial existing improvements, the strength of the covenant and confidence in the tenant’s commitment to the region, helped secure the outcome,” according to Stonebridge Property Group’s Rorey James, who marketed the portfolio with Kevin Tong and Wilson Property’s Ben Wilson and Emma Dunne.
Fund spends $34.5m in Traralgon
The other assets offered as part of the portfolio, 5533 and 5555 Princes Hwy, traded late last year – again to Strategic Opportunities (Growth & Income) Fund – for a total $11m.
Motus was established in South Africa in 1948. The Australian arm employs 700 people selling 25 makes across 47 sites – in New South Wales and Victoria.
“We continue to see strong demand for regional investment opportunities which offer favourable risk adjusted yields,” Mr Wilson said.
“This has been highlighted by the sale of these three auto-dealerships and the general level of enquiry witnessed by our team over the first few months of 2025,” he added.
Traralgon is about 160 kilometres east of Melbourne’s CBD.
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