Coburg North food manufacturing site sold for $2 million

A freehold industrial food manufacturing site in Coburg North has sold for $2,090,000, representing a building rate of $1,104 per square metre.

John Nockles and Craig McKellar, from CVA Property, had the listing.

CCC Operations Pty Ltd have been in occupation of the Hocking Street premises since 2014 and have recently renewed the lease, which represents a 7.35% yield on the recent sale price.

In addition, the tenant occupies the neighbouring building directly behind this premises.

They currently own and manufacture product lines for Ernest Hiller and Newman's and manufacture their chocolate products that have been produced for over 100 years.

The campaign attracted over 50 enquiries over its 8-week campaign with both interstate and Victorian investors participating.