Dream Haven Portfolio – Epping
A private investor has acquired nearly an entire Melbourne street for $47.75 million.
The Dream Haven Portfolio in Epping was sold through Fitzroys’ Marco Sandrin and Brent Glassford via an Expressions of Interest campaign, on behalf of an investor and developer who built out the land.
The portfolio comprises six tenancies with a combined building area of 27,539sqm*, on a combined landholding of 48,826sqm* across five separate titles. It was offered with a substantial passing income of more than $2.894 million per annum net, from tenants largely in the manufacturing sector, and a weighted average lease expiry of 2.83 years.
The properties include:
- 89 Miller Street & 2-3 Dream Haven Court – leased to All About Steel and D2 Steel
- 4 Dream Haven Court – leased to Cooling Brothers
- 6-8 Dream Haven Court & 10-12 Dream Haven Court – leased to Creative Composites and K Care Healthcare Solutions
- 16 Dream Haven Court & 91-93 Miller Street – leased to Convair Engineering
“Well-connected industrial offerings with a compelling combination of secure income, significant underlying land value and substantial future upside in prime Melbourne locations are exceptionally rare, which was reflected in the strong enquiry and fiercely contested campaign,” Sandrin said.
“Our campaign generated more than 65 enquiries from qualified local, interstate and offshore interests, ranging from private investors and syndicates through to institutional investors, as well as land bankers.
“We received five Expressions of Interest bids, which has left some $180 million in capital on the table that is actively pursuing Melbourne commercial real estate opportunities.
“We’re seeing genuine competitive tension and considerable depth of demand in our campaigns for well-located Melbourne industrial assets.
“Buyer sentiment is improving, and we expect that trend to continue throughout the final quarter of 2026.”
Glassford said, “Passive income from quality tenants, rental reversion upside, value-add propositions and a critical landholding in Melbourne’s ‘CBD of the north’ made this a remarkably attractive investment for the purchaser.”
He added, “The chronic shortage of industrial land supply in prime Melbourne locations made this an increasingly rare chance to secure an expansive portfolio in one of the city’s most accessible commercial, industrial and employment hubs.”
“It’s clearly not every day that you come across the opportunity to buy nearly an entire Melbourne street.”
Glassford said the market had recognised Epping as the key activity hub of Melbourne’s northern suburbs.
Major traffic generators close by in Epping include Pacific Epping regional shopping centre and the Melbourne Wholesale Fruit Vegetable & Flower Market, Northern Hospital, Epping Private, Melbourne Polytechnic, the Mantra Hotel, and Costco Supermarket.
The strategic last mile location also offers immediate connectivity to the Hume Freeway, Cooper Street, O’Herns Road and the Metropolitan Ring Road, opening up access to the rest of Melbourne as well as Melbourne Airport.
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