A private investor has divested their Campbellfield industrial asset for an 85% uplift less than three years after purchase.
Located at 143 National Boulevard, the 11,572sqm warehouse was purchased in September 2020 for $13,500,000 and recently re-traded for $25,000,000.
A transport logistics provider purchased the warehouse to expand its existing footprint in the surrounding area.
CBRE’s Joe Brzezek and Daniel Eramo brokered the deal.
“We have seen large-scale capital growth in the northern industrial market over the last 24 months. While there has been a reduction of purchasers in the current market, the lack of vacant industrial facilities above 10,000sqm for purchase has resulted in an undersupplied market causing continuing capital value growth,” Mr. Brzezek said.
Mr. Eramo added, “The owner-occupier sector has been one of the most active purchaser groups over the last six months, seizing the opportunity to capitalise on lower competition volumes. Owner occupiers can move swiftly should the right opportunity arise as they continue to take long-term views on the acquisition and the importance of business continuing to prosper.”
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