The property at 9 Efficient Drive, Truganina was sold by M & L Holdings Group Limited, a company listed on the Hong Kong stock exchange. This transaction allowed M & L Holdings to acquire the buyer's facility located at 41 Triholm Avenue, Laverton, which aligned perfectly with their requirements in Victoria.
"The negotiations involved numerous moving parts to minimise potential business disruptions for both parties, as they aimed to relocate and operate from each other's properties upon settlement," stated Ricardo Cappelletti, Director at AND Property.
The sales achieved record rates per square metre across the buildings for each respective property in their locations. Both properties featured distinctive improvements tailored to their new occupiers.
"The properties included overhead gantry cranes, which are essential for the operations of both businesses. Finding existing properties for sale with cranes is quite challenging, which significantly contributed to our ability to facilitate this transaction," added Ben Quennell, Associate Director at AND Property.
Transaction Summary:
- Address: 9 Efficient Drive, Truganina
- Site Area: 2,728m²
- Building Area: 1,757m²
- Asset Type: Industrial 1 Office/warehouse
- Sale Price: $6,000,000
- Building Rate: $3,415/m²
- Buyer Profile: Owner Occupier
- Address: 41 Triholm Avenue, Laverton
- Site Area: 1,178m²
- Building Area: 891m²
- Asset Type: Industrial 3 Office/warehouse
- Sale Price: $2,750,000
- Building Rate: $3,086/m²
- Buyer Profile: Owner Occupier