Melbourne badminton venue worth making a racket over

Buyers who love to start a racket are expected to hit a Blackburn North site with their best shot.

The Melbourne Badminton Centre at 6-16 Joseph St is on the market for more than $10 million.

Part of a 1ha package, believed to be the only one of its kind in the eastern suburbs, the state-of-the-art sports centre includes an academy with over 300 members as well as nine new courts, bathrooms and change rooms.

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Neighbour Orafol Australia, which produces self-adhesive products from several warehouses and offices on the site, is also part of the sale.

The massive block at 6-16 Joseph St, Blackburn North, is minutes from the Eastern Freeway.

The two long-term tenants ensure the site’s new owner will enjoy an annual rent of $578,538 with the industrial 3 zone area offering the possibility of future development.

CBRE Mulgrave sales agent Joe Brzezek says he believes the site is the only one to be found in the industrial market between Box Hill and Bayswater.

“This is an extremely rare, large scale purchase opportunity which the market has not seen in a number of years,” he says.

Brzezek says the site’s location is also a winner.

Orafol Australia, which produces self-adhesive products, is also being sold as part of the 1ha site.

“Blackburn North has only one industrial street and it’s within immediate access of the M3 (Eastern) Freeway,” he says.

Brzezek’s colleague, Sasan Misaghian, says he’s been “blown away” by the interest in the site with a mix of buyers taking a serve at it.

Misaghian says the badminton centre’s lease expires in 2023, with the option of taking up another 10-year lease, while Orafol had one more year remaining on its tenancy.

The site is for sale by an expressions of interest campaign, closing on September 20.

This article from Leader Newspapers originally appeared as “Blackburn North buyers make big racket over rare industrial site”.