Shepparton Industrial Site Sold for $7 Million Amid High Investor Demand
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An industrial property located at 73 Old Dookie Road, Shepparton, has been sold for $7 million, achieving a yield of 5.89 per cent, announced Burgess Rawson. The sale was completed through an Expressions of Interest campaign managed by Beau Coulter and Natalie Couper from Burgess Rawson, alongside Rocky Gagliardi of Gagliardi Scott Real Estate.
“The campaign attracted strong interest, receiving six offers from both local and overseas investors,” Mr. Coulter said. He emphasized the robust demand for quality industrial properties in regional areas such as Shepparton.
Ms. Couper highlighted the sale as an exceptional outcome, reflecting the enduring appeal of prime industrial real estate in the region. “This sale underscores the robust demand we’re seeing in Shepparton and similar regional centres,” she explained.
The property, which encompasses a substantial 16,650 square metre freehold landholding, has recently undergone capital upgrades exceeding $2 million. These improvements include the addition of warehouses, a workshop, truck wash facilities, and head office amenities, enhancing the siteโs value significantly.
Cleanaway, a leading waste and recycling service provider in Australia, has been a longstanding tenant at the site for 22 years. The company holds a twelve-year lease that extends to November 2032, with options up to 2044, ensuring a stable income stream with fixed 3% annual rent increases.
Positioned strategically within Shepparton’s premier industrial precinct, the property benefits from excellent access to key transportation routes, including the Shepparton Alternate Route and the Goulburn Valley bypass, making it an ideal hub for distribution purposes.