SOLD
Sold on 21 Nov 2023 for $10,888,000

7 Argent Place
Ringwood VIC 3134

Bedrooms: -
Bathrooms: -
Car spaces: 81
Land area: 17622m2
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Property Details for 7 Argent Pl, Ringwood

Building Type
Commercial
Land Size
17622m2
Local Government
Maroondah
Lot/Plan
2/PS401614

Last Listing description (July 2023)

CBRE is pleased to offer 7 Argent Place, Ringwood, for sale via Expressions of Interest closing Wednesday 30th August 2023 at 3pm AEST.

A prominent 'infill' landholding in one of Melbourne's tighest-held industrial precincts this prime site provides secure income with future development potential. With industrial land supply at such critically low levels, opportunities like this are rarely offered.


The property will suit value-add investors looking to capitalise on the rental uplift, developers waiting to build strata office/warehouse or owner occupiers that will use the current improvements or build their new headquarters.

The property is currently leased to Trajan Scientific and Medical (ASX Listed) until 31/12/2023 with multiple 3-year options.

Key property features include:

+ Total building area: 6,636sqm*
+ Total land area: 17,622sqm*
+ Industrial 1 Zoning
+ Single-level corporate offices with large lunchroom
+ Large manufacturing/lab/clean room facilities
+ Functional warehouse
+ Large power supply
+ Exposure to Eastlink
+ Low site coverage which allows for future expansion (STCA)
+ Prime long-term strata office/warehouse business park potential
+ Leased to Trajan (ASX Listed) until 31/12/2023 with a 3-year option
+ Current rental $700,133.53p.a plus outgoings and GST
+ Excellent access to Eastlink
+ One of the last large-scale future development sites in the Eastern industrial market.

Location highlights include:

+ Canterbury Road - 750m*
+ Eastlink 150m*
+ Maroondah Highway 1.4km*
+ Heatherton Train Station 1.2km*
+ Eastland Shopping Centre 1.9m*

For further information, please contact the exclusively appointed CBRE agents listed.

approx*

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Property History for 7 Argent Pl, Ringwood, VIC 3134

A timeline of how this property has performed in the market
Last Sold
$10,888,000
21 Nov 2023
  • 21 Nov 2023
    Sold for $10,888,000
  • 31 Jul 2023
    Listed for Sale Contact Agent
  • 23 Jun 2013
    Sold for $6,000,000

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About Ringwood 3134

The size of Ringwood is approximately 10.2 square kilometres. It has 35 parks covering nearly 13.2% of total area. The population of Ringwood in 2011 was 16,008 people. By 2016 the population was 17,450 showing a population growth of 9.0% in the area during that time. The predominant age group in Ringwood is 30-39 years. Households in Ringwood are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Ringwood work in a professional occupation. In 2011, 62.7% of the homes in Ringwood were owner-occupied compared with 58.6% in 2016.

Ringwood has 12,116 properties. Over the last 5 years, Houses in Ringwood have seen a 29.78% increase in median value, while Units have seen a 16.07% increase. As at 31 July 2024:

  • The median value for Houses in Ringwood is $1,025,591 while the median value for Units is $625,445.
  • Houses have a median rent of $590 while Units have a median rent of $490.
There are currently 54 properties listed for sale, and 14 properties listed for rent in Ringwood on OnTheHouse. According to CoreLogic's data, 464 properties were sold in the past 12 months in Ringwood.

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