Quintessential Equity chief executive Russell Bullen said the property’s location in one of Melbourne’s major industrial areas and its recently renewed lease agreement had appealed to buyers.
“The combination of location and its new long-term lease meant that the property generated significant interest from investors,” he said.
“Developing meaningful relationships with our tenants helps ensure their occupancy needs can be met well into the future.
“As our first settlement of 2020, Quintessential Equity is looking forward to another strong year as we expand our portfolio in Victoria and interstate.”
The Melbourne-based syndicator is active in markets across the country, acquiring and selling existing assets as well as developing commercial property.
At Geelong, Victoria’s second-largest city, Quintessential has developed a new headquarters for Worksafe and, more recently, struck a deal to develop a $200 million civic precinct.
