Deals of the Week - 14th April 2025

Victoria 

LAVERTON NORTH - $21 million 

A construction industry occupier has purchased an industrial property at 4-6 Cambridge Street, which was held by Nutrien, who outgrew the planned facility and sold the vacant land, which comes with an approved permit for development to a construction industry occupier for expansion.  

The 2.254-hectare landholding includes an approved permit for a 10,423 sqm office and warehouse development. Located just 15km west of Melbourne’s CBD, the site provides excellent development flexibility, making it ideal for developers or owner-occupiers seeking strategic positioning.

Colliers Industrial & Logistics specialists Stephen Ryan, Charlie Woodly, and Hugh Gilbert negotiated the $21 million sale. 

Situated in Laverton North—a tightly held and land-constrained precinct—the site holds strong potential for last-mile logistics or tailored industrial facilities. Approvals from Wyndham Council, EPA, and Work Safe have been secured, allowing for immediate construction, subject to council approval (STCA). 

KEYSBOROUGH - $8.4 million 

A prime-grade industrial asset at 28-32 Arctic Court has been successfully sold for $8.4 million to a private investor. 

Following a sales campaign managed by Colliers' Sam Hibbins and Luke Lowden, the transaction underscores the dynamic state of Melbourne’s Southeast industrial market.  

The high-quality building, covering 2,953 sqm, is situated on a 5,300 sqm site adjacent to EastLink, offering unparalleled connectivity. Located within the highly sought-after Keysborough Key Estate, the property features an expansive 20-metre-wide hardstand, running the full length of the warehouse, a newly built 400sqm cool room, high clearance, five on-grade roller doors, and a securely fenced and gated site.  

NEWPORT - $5.7 million 

Mercy Health has sold its vacant aged care home in Newport for $5.7 million, reflecting a rate of $154,000 per bed. 

The property, located at 286-296 Melbourne Road, was sold via an Expressions of Interest Campaign by CBRE’s Australian Healthcare and Social Infrastructure team of Marcello Caspani-Muto, Sandro Peluso and Jimmy Tat on behalf of Mercy Health. 

Mr Caspani-Muto noted as the volume of vacant aged care homes continues to reduce in market, the buyer profiles continue to widen. 

RESERVOIR  - Undisclosed 

CVA Property Consultants is pleased to announce the successful sale of an industrial facility located at 57–59 Banbury Road, Reservoir, following a competitive sales campaign. 

The property comprises a 1,355 sqm building set on a 2,057 sqm parcel of land, situated within a tightly held Industrial 3 Zone. The offering featured a combination of warehouse and office space, appealing to a range of owner-occupiers and investors seeking well-located, flexible industrial accommodation in Melbourne’s north.  

Luca Angelico, of CVA managed the sale, which closed after strong market interest — a testament to continued demand for quality assets in Melbourne's inner northern industrial precincts. 

Western Australia 

SUBIACO - $21.55 million 

The Kids Research Institute has sold its former office headquarters and research facility in Subiaco for $21.55 million. 

CBRE’s Derek Barlow and Aaron Desange sold the purpose-built life sciences asset at 100 Roberts Road via an Offers Invited campaign. 

A private investment organisation, Bravestar Group, managed the acquisition on behalf of a domestic investor. 

Mr Barlow said the asset’s strategic location, range of value-add features and growing investor interest in the life sciences sector drove strong interest in the property. The Kids Research Institute relocated to Perth Children’s Hospital in 2018. The two-level facility is currently occupied by a government tenant. 

New South Wales 

SMITHFIELD - $8.5 million 

A private investor has acquired a free-standing industrial warehouse in Smithfield for $8.5 million in an off-market transaction. 

CBRE’s Janet Joljian managed the transaction of 6-8 Tait Street, with the sale achieving a record price of $6,800/sqm for the building area of 1,250sqm. 

Ms Joljian said the 3,846 sqm site was under contract within 48 hours, which reflected the strong demand in the metro west market. 

FORREST LODGE - $4.8 million 

A block of 10 apartments registered as a boarding house in a sought-after inner-Sydney location has sold for just under $5 million.  

The property at 28 Ross Street in Forest Lodge has six one-bedroom apartments and four studios on a 302sq m site around 2.5km southwest of the CBD, within walking distance of Sydney University and the Royal Prince Alfred Hospital.  

The fully leased asset operates as a multi-tenanted residential dwelling, spanning three levels on a beautiful corner block with dual street frontage to Ross Street and St Johns Road.  

It was purchased by a local investor following a sales campaign managed by Knight Frank's James Masselos and Adam Droubi on behalf of the Little Family.