Melbourne industrial sale and leaseback opportunity

Melbourne, 30 September 2013- Mainfreight, a NZ listed global logistics company, is selling one of its 29,640sqm industrial sites on a sale and leaseback scenario.

1657 Centre Road, Clayton, is located within one of Melbourne’s most established and evolving industrial precincts, with the CBD just 23 kms to the north-west.

Covering a land area of 29,640sqm (approx. 3 hectares), the property features a flexible building of approximately 11,000sqm and significant frontage to Centre Road of approximately 195 metres.

Rory Hilton, Chris O’Brien and Matt Haddon from CBRE’s Victorian Industrial Investments team along with Michael Hayden, Director CBRE Development Services are marketing the property on behalf of Mainfreight.

Mr Hilton, Senior Manager of Industrial Investments said Mainfreight are committing to a new five (5) year lease with an option period thereafter, guaranteeing any potential buyers a significant rent period.

“We expect a wide range of parties interested in this property given the security of a five (5) year lease to Mainfreight.  The property is presented to a premium standard and provides a highly flexible space with future redevelopment/and or subdivision potential,” said Mr Hilton.

Mr O’Brien, Director of CBRE Victoria, said the Centre Road precinct is in the midst of transformation, with the recently completed Springvale homemaker centre, a new Bunnings store under construction and many large scale sites having either been rezoned or mooted for rezoning from industrial to residential/mixed use.

“These changes to the Springvale/Clayton precinct will be important to investors providing a potential future higher and better use.  Investors will be keen to pursue the opportunity given the high underlying land value and flexibility of the offering,” said Mr O’Brien.

“This is a tightly held precinct and we expect solid interest in the upcoming Expressions of Interest campaign.”

The EOI campaign closes 30 October 2013 at 4pm.