Baron Vanilla Management has acquired the Civilmart manufacturing facility at 33 Kiewa Valley Road, Wodonga, in a $14.71 million transaction, underscoring sustained investor appetite for large-scale industrial assets in regional growth areas.
The deal was brokered by Justin Kramersh of Burgess Rawson from CBRE, in conjunction with Dixon Commercial, following a highly competitive Expressions of Interest campaign that attracted strong interest from a broad spectrum of investors.
Set on a substantial 69,020 sqm landholding, the property is leased to Civilmart, a subsidiary of CRH, a Fortune 500-listed global construction materials company with a market capitalisation exceeding USD
$60 billion.
Purchasers were drawn to the landlord-friendly lease terms, with Civilmart responsible for all outgoings, including land tax. The lease runs through to 2031, with multiple options extending to 2071.
“This sale reflects the market’s continued hunger for institutional-grade industrial assets leased to blue- chip tenants in strategic regional locations,” said Mr Kramersh.
He added: “Albury-Wodonga has rapidly emerged as a regional industrial powerhouse. With a robust infrastructure pipeline, projected population growth of 38 per cent, and a diverse industrial economy, it’s become one of Australia’s most appealing investment destinations outside the capital cities.”
The campaign attracted considerable interest from local and private investors, property syndicators, and institutional funds, culminating in six formal offers.
Baron Vanilla Management Director, Miles Ashton, said: “Our acquisition of the 33 Kiewa Valley Highway property for the BV Industrial Trust No 2 represents a significant opportunity. This enormous 6.9-hectare industrial site, leased to Civilmart, offers compelling value. With Civilmart now backed by CRH, a global leader, we see immense long-term potential in this strategically vital location within the Albury-Wodonga industrial precinct, connecting two major capitals.”
This sale caps off the Civilmart portfolio, which has seen over $70 million transacted in the past nine months, with Justin Kramersh overseeing the portfolio.
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