Melbourne

Competitive campaign culminates in $4.3m Campbellfield sale

A Sydney-based investor has acquired a freestanding office/warehouse facility in Melbourne’s Campbellfield for $4.3 million.

07 Aug 2019

A Sydney-based investor has acquired a freestanding office/warehouse facility in Melbourne’s Campbellfield for $4.3 million.

CBRE’s Daniel De Sanctis and Amanda Traficante negotiated the sale of the 24 Metrolink Circuit office/warehouse following a competitive Expressions of Interest campaign.

The facility has a net lettable area of 2,874sqm and includes a 497sqm canopy as well as onsite parking for 30 cars.

It was sold with a three-year leaseback to Mills Glass Pty Ltd, returning $254,000 per annum + GST.

“The sale campaign culminated in multiple offers, all of which exceeded the vendor’s reserve price,” Ms Traficante said.

“The property’s location in the Metrolink Estate, on the doorstep of the Hume Freeway and Cooper Street, was a key buyer drawcard as was the strong covenant and leaseback arrangement.”
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About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), 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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.

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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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 https://www.cbre.com.