Baked goods supplier Heaven’s Bakehouse buys $6m section of Truganina

Baked products supplier Heaven’s Bakehouse will set up a new production facility in Truganina, after purchasing part of the Axiom Industrial Estate.

The family-owned company has bought 2 Carmen Street, located within the estate, for $6 million and will relocate from Keilor East.

The brand new 3,944sqm development features split level office and high-clearance warehouse space, with five container-height roller doors and 55 parking spaces.

The Axiom Industrial Estate also occupies a prominent corner location and is just of the Western Freeway, roughly 19kn west of the Melbourne CBD.

CBRE’s Tom Murphy, Ricardo Cappelletti and Fergus Pragnell managed the sale on behalf of the vendor, Al Raziq Investments.

“Heaven’s Bakehouse saw value in retro-fitting a brand-new facility over purchasing a greenfield site and starting from scratch,” Murphy said.

“Market conditions are incredibly strong at the moment; low interest rates, coupled with general buoyancy around the economic COVID-19 rebound, are driving the prices of vacant land and existing buildings alike,” he said.

Source: CBRE