A high profile industrial development site in Melbourne’s northern suburb of Campbellfield has sold under the hammer to a food and beverage operator for $4.01 million.
Located at 1537-1549 Sydney Road, the corner property comprises a 17,392sqm land parcel with 120 metres’ street frontage.
CBRE’s Daniel Eramo and Dean Hunt, in conjunction with Killen & Thomas’s John Camilleri, negotiated the sale on behalf of the vendor, with more than 22 bids received during the competitive auction process.
Mr Eramo said the property’s substantial size and exposure in a premium commercial precinct underpinned strong buyer interest.
“The successful purchaser recognised the attractive opportunity to secure the highly exposed site, which will allow them to strategically position their business,” Mr Eramo said.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
