Just weeks after Gibb Group signed Kraft Foods to a purpose-built industrial building in Melbourne’s west, the developer has on-sold the project for $21.43 million.
The 23,455sqm property at 19-39 Study Court, Derrimut, on the Paramount Industrial Estate, was sold to a private investor at a yield of 8.2 per cent. The building, completed in late June, was developed by Gibb Group and designed and constructed by builder Qanstruct.
Kraft signed a 5 plus 5 plus 5 year lease for the warehouse, which was built on 46,650 square metres of land fronting the Western Ring Road.
The Age – 25 July 2012