Jones Real Estate has successfully overseen the complete sell-down of the CooperRex Business Park in Campbellfield on behalf of the McMullin Group, with all 17 warehouses sold to owner occupiers for a combined total exceeding $15 million.
The project began in 2021 when Jones Real Estate transacted the broader 2.6ha site at 27–35 Cooper Street to McMullin Group for $8.25 million. At the time, the sale reflected a land rate of $310 per square metre.
In 2024, a further 1.35ha parcel within the estate was sold to a local industrial developer for $9 million, more than doubling the land rate to $690 per square metre within three years.
McMullin has also delivered and continues to manage the Liberty Service Centre on Cooper Street, underlining their long-term investment in the precinct.
“The full sellout of the estate highlights both the demand for quality warehouse product and the success of the collaborative partnership with McMullin,” said Tim Spargo, Director at Jones Real Estate.
“This has been an outstanding journey from acquisition through to completion. The transformation of the site and the rapid absorption of the warehouse product speaks volumes about the depth of Melbourne’s industrial market and the foresight of the McMullin Group,” added Spargo.
The completion of the CooperRex Business Park underscores the strong fundamentals of Melbourne’s north industrial corridor, with Campbellfield continuing to attract owner occupiers and developers alike.
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