Jones Real Estate has facilitated the off-market transaction of 1 Quarry Road, Tottenham for $32,800,000 on behalf of a private client, marking yet another premium industrial transaction for the agency.
The 40,000sqm* Industrial 1 Zoned landholding—featuring an 8,016sqm* warehouse facility—is occupied by Container Freight Services (CFS) as a warehouse and container storage park. CFS maintains a lease on the property until 2030, with a current net passing income of $1,365,000, equating to a passing yield of 4.16%.
The successful result represents an impressive capital gain of approximately $10,000,000 for the vendor within just 2.5 years of ownership, further underscoring the resilience and strength of Melbourne’s infill industrial market.
Jones Real Estate delivered the result through a confidential off-market, private negotiation sales campaign, strategically targeting industrial investors with an appetite for well-located infill sites offering long-term redevelopment potential. Three qualified bidders contested the asset, with the ultimate purchaser—a high-profile international investment consortium—outbidding two other firms to secure the site.
Paul Jones, Managing Director of Jones Real Estate, said:
“This result reflects the enduring strength of the industrial sector and the high demand for premium infill assets in proximity to major infrastructure.
“We’ve worked closely with this client over a number of years and are proud to have delivered a significant uplift on their investment in such a short timeframe.
“The buyer was particularly attracted to the underlying land value, just three kilometres from the Port of Melbourne—an increasingly rare proposition in today’s market.”
This transaction builds on Jones Real Estate’s recent string of market-leading industrial sales, including 75 Acacia Rd, Ferntree Gully for $8,620,800 (4.68% yield), 453–455 Hammond Road, Dandenong South for $17,500,000 (4.63% yield), 215–225 Heales Road, Corio for $15,000,000 (5.37% yield), and 2231 Melton Highway, Melton for $44,000,000.
The group is currently marketing two additional industrial assets – 20 Heaths Court, Mill Park and the Monbulk Jam Factory, 89 Camms Road, The Patch (Monbulk) – and is fielding a high volume of interest across both campaigns.
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