An interstate investor has purchased an industrial property located in Melbourne’s highly desirable Inner North for $6 million.

CBRE’s Matthew Romanin, Andrew Bell, and Jake George brokered the off-market sale of 1-9 Bellevue Crescent Preston with the price reflecting a robust yield of 5.4% with four years to run on the current lease. 

Mr Romanin said, “Melbourne’s industrial investment market continues to display robust strength and remains highly sought-after. Despite various economic challenges, it maintains a steady growth trajectory, attracting both local and interstate investors.

“High demand, coupled with limited supply in the inner areas, has resulted in competitive returns, further solidifying Melbourne as a key hotspot for industrial investment. This resilience underscores the market's capacity to offer stable and lucrative investment opportunities.”

The property spans a 4,046 sqm site zoned as industrial zone 3 land and has a gross leasable area of 2,876 sqm.

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