Jones Real Estate Concludes $32.8M Off-Market Sale in Tottenham

13 May 2025
Industrial property at 1 Quarry Road, Tottenham

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:

ā€œThis result reflects the enduring strength of the industrial sector and the high demand for premium infill assets in proximity to major infrastructure.

ā€œWe’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.

ā€œThe 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.ā€

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.