AND Property Unveils $50M Industrial Property Portfolio in Victoria

AND Property Banfield Court Truganina
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AND Property, a recently established real estate agency, has unveiled a portfolio of five industrial properties this week, boasting a cumulative anticipated value exceeding $50 million in Victoria.

The brainchild of Victoria’s top-performing industrial agents, Ricardo Cappelletti and Bryce Pane, AND Property marks its entry into the market with this significant move. Notably, Cappelletti and Pane, both former stalwarts at CBRE, have decided to chart a new course by inaugurating this challenger agency.

^AND Property, South Meblourne (Image: AND Property)
^AND Property, South Meblourne (Image: AND Property)

This strategic initiative signals the official launch of AND Property, positioning it as a formidable contender in the real estate landscape. The agency’s focus on industrial properties and the combined expertise of its founders underscore the potential impact it aims to make in the industry.

A flagship property for the group, located at 1 – 23 Banfield Court, Truganina, spans an impressive 29,825 square meters. Currently hosting a facility covering only 8.4% of the land with a short WALE, AND Property Director Ricardo Cappelletti emphasizes its strategic position within an industrial hub with direct access to key locations, including the port, airport, CBD, and Eastern suburbs via the freeway.

“The land is well positioned within an industrial hub with direct access to the port, airport, CBD and Eastern suburbs given its proximity to the freeway.

“With an asking price of $21,000,000 plus, which represents an improved land rate of $703 PSM, we expect it will appeal to investors, owner occupiers and developers. The short WALE with no options offers flexibility to redevelop, occupy or relet the property closer to market rental expectations.” Cappelletti elaborates.

This prime offering is available through an expression of interest campaign, set to conclude at the end of the month.

Included in AND Property’s diversified portfolio is 46 Burke Street, Braybrook, a four-lot land subdivision ranging from 1,854 to 3,202 square meters, valued at approximately $11 million. Additionally, 9 – 11 Fitzgerald Road, Laverton North, a 10,150 square meter site adjacent to McDonald’s and BP, is on offer via private sale with expectations around $9.75 million.

At 57 Patch Circuit, Laverton North, a high-exposure 9,998 square meter development site within Time & Place’s The Junction Estate awaits interested parties. The shovel-ready site, equipped with approved plans, is ideal for transport and display yard groups or developers. The property is available for sale through an expression of interest, closing in early April, with a price guide of $8 million+.

^Vacant Land Opportunity at 57 Patch Circuit in Laverton North (Image: AND Property)
^Vacant Land Opportunity at 57 Patch Circuit in Laverton North (Image: AND Property)

Completing AND Property’s inaugural offering is 2 University Place, Clayton, a stand-alone facility covering 900 square meters on just over 1,000 square meters of land. This property is presented via an expression of interest, with the closing date set for early April and a price guide of $2.8 million+.

“We’ve noticed that our clients were back early in 2024 with new purchase mandates and listing opportunities. Comparative to the first quarter of last year, groups seem more active and prepared to pursue opportunities,” said AND Property Director Bryce Pane.

“Speculators are forecasting a drop in rate rises during 2024, coupled with extremely low vacancy rates and limited industrial purchase options. The sentiment in 2024 feels positive,” he concluded.

Note: The information presented in this article is for general informational purposes only and should not be relied upon as legal, financial, or professional advice. While we make every effort to fact-check and verify the information presented, we cannot guarantee its accuracy or completeness. Readers are encouraged to independently verify any information they find on our website and to consult with relevant professionals before making any decisions based on the information presented. The Australian Development Review does not own the rights to the information included within this article, and furthermore, there is no infringement intended from the included text and images within.

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