A premium office and warehouse property in Melbourne’s tightly-held Brooklyn industrial precinct has changed hands for $5 million. 

Finch Industries, a machinery manufacturer, acquired the property at 44 Paw Paw Road from a private investor. 

CBRE’s Tom Murphy, Lachlan May, Cameron Giles, and Fergus Pragnell brokered the sale on behalf of the vendor, who was represented by Clint Jellis of Grant and Jellis Advisory.

The property spans 1,893 sqm of gross lettable area and features corporate offices over two levels.

Mr May noted the sale price set a new benchmark for warehouses of this size and highlighted the ongoing strength of the second-hand property market in Melbourne.

“Despite uncertainties, many industrial businesses continue to perform strongly, and this is a remarkable outcome for the industrial market given the current economic conditions,” he said.

“Melbourne’s west remains largely undersupplied for zoned industrial land. This property’s strategic location made it very attractive to buyers as it provides immediate access to Melbourne’s highly sought-after freeway network via Grieve Parade, positioning it within the thriving western growth corridor.” 

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