Industrial property in Melbourne’s Inner North sells off-market for $6 million

An interstate investor has purchased an industrial property located in Melbourne’s highly desirable Inner North for $6 million.

CBRE’s Matthew Romanin, Andrew Bell, and Jake George brokered the off-market sale of 1-9 Bellevue Crescent Preston with the price reflecting a robust yield of 5.4% with four years to run on the current lease.

Mr Romanin said, “Melbourne’s industrial investment market continues to display robust strength and remains highly sought-after. Despite various economic challenges, it maintains a steady growth trajectory, attracting both local and interstate investors.

“High demand, coupled with limited supply in the inner areas, has resulted in competitive returns, further solidifying Melbourne as a key hotspot for industrial investment. This resilience underscores the market's capacity to offer stable and lucrative investment opportunities.”