Industrial property giant Goodman Group has sold three newly built warehouses in Melbourne’s west to Singapore’s Frasers Logistics & Commercial Trust for a combined $61 million as institutional capital from Asia pours into Australia’s commercial property market.
The logistics facilities at 1 Magnesium Place, 11 Magnesium Place and 17 Magnesium Place in Truganina – completed in May – range in size from 4000sq m to 8000sq m.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
