Melbourne’s industrial northern suburbs remain in strong demand, with a 2,120sqm facility leased quickly resulting in no downtime for the landlord.

Fitzroys’ Brent Glassford and Marco Sandrin negotiated the three-year lease of 5/220 Barry Road, Campbellfield at $157,650 per annum plus outgoings and GST on behalf of a private landlord.

An expanding company in the caravan industry took up the property to add to their existing premises nearby, wanting to maintain their presence in their current location due to the excellent road linkages the property offers.

The facility comprises a clear span warehouse with three roller shutter doors with a side yard on an Industrial 1-zoned site, just 200 metres from the Hume Highway, providing outstanding access to major road linkages including Sydney Road, Hume Freeway and the M80 Ring Roads.

“The tenant pounced at the opportunity to add to their operations while maintaining a presence in a location that offered excellent accessibility, and there was no downtime for the landlord,” Glassford said.

“Campaigns for well-connected sites continue to be ultra-competitive.”

Sandrin said Melbourne’s industrial vacancies remain at historic lows, and leasing take-up continues to outpace long-term averages.