Aware Real Estate, in partnership with Barings, has acquired a $600 million industrial estate in Melbourne’s North.
The 99-hectare Austrak Business Park, located in the core infill suburb of Somerton, 20 km north of the Melbourne CBD is a mix of existing buildings, the largest intermodal freight terminal in the country (due for completion in 2025), and development land.
Current tenants include Coles, Bunnings and Labelmakers, while the total development site area encompasses about 373,000 sqm with almost 140,000 sqm having frontage to the Hume Highway.
The property was purchased from the 50/50 joint venture owners, GPT and Austrak AFM.
Leave a Comment
You must be logged in to post a comment.