A private investor has successfully acquired a fully leased industrial warehouse located at 1608 Hume Highway, Campbellfield, VIC for $12.25 million, reflecting an initial yield of 4.02 percent. This marks a significant move in Victoria’s logistics and industrial real estate market.
Situated on a 16,550 square metres (1.65 hectares) regular-shaped Industrial 1 zoned allotment, the site features a machinery assembly facility spanning 4,948 square metres. The facility is further complemented by an expansive external yard and display areas and significant exposure along Hume Highway of 85 metres.
The industrial asset is currently fully leased to Komatsu Australia, a globally recognised leader in earthmoving, mining, and construction equipment provision. This lease guarantees a secure annual income of $492,828, with fixed reviews in place until August 2026.
Additionally, the property holds formal Development Approval for a 46-unit industrial business park, providing a future avenue for expansion or redevelopment upon lease expiry.
The sale was orchestrated by Chris Jones and Charlie Holmes of Cushman & Wakefield's Capital Markets Logistics & Industrial team.
Commenting on the transaction, Chris Jones stated, "With strong inquiry from investors, developers, and owner-occupiers, this sale confirms there is a robust market appetite for well-located industrial and logistics investment opportunities in 2024.
“This acquisition also highlights the continued attractiveness of the Melbourne industrial market for discerning investors seeking secure and strategically positioned assets. As the market continues to evolve, such transactions are indicative of the ongoing demand for premium industrial properties in key locations” he said.
