28-46 Bald Hill RoadPakenham VIC 3810
Property Details for 28-46 Bald Hill Rd, Pakenham
Last Listing description (November 2022)
JLL Capital Markets Industrial & Logistics team is pleased to offer for sale an exceptional investment opportunity of scale for two Australian manufacturing facilities which underpin the national and global operations of iconic Australian brand, Patties Foods. The assets are both located within Victorian at 28-46 Bald Hill Road, Pakenham and 169 Princes Highway, Bairnsdale.
Patties Foods group is the largest pie manufacturer in the world, producing some of Australia's most famous household and market leading brands, including Four'N Twenty, Patties, Herbert Adams, Boscastle, and Nanna's. Originally established in 1966, Patties provides a long and rich history within the Australian food manufacturing landscape and now proudly employ over 1,000 staff across Australia and New Zealand.
Key Investment Highlights for 28-46 Bald Hill Road, Pakenham include:
Long Lease to Iconic Australian Food Manufacturer in Patties Foods
Significant 30 year WALE structured on a Triple Net basis
Fixed rental growth of 3.0% p.a. providing a strong running yield
Commencing income of $3,200,000 p.a. with 100% occupancy
Patties Foods budgeted Net Sales Value for FY2021 is in excess of $480 million*
Substantial Industrial 1 Zoned land holding of 5.46 hectares within a rapidly gentrifying precinct
Tenant infrastructure embedded across the Pakenham asset of $15+ million in tenant plant and equipment
*approx
The property is being offered for sale via Expressions of Interest closing Wednesday 24 th March 2021 at 4pm (AEDT).
For further information please contact the exclusive JLL marketing agents.
Property History for 28-46 Bald Hill Rd, Pakenham, VIC 3810
- 16 Apr 2021Sold for $76,000,000
- 24 Feb 2021Listed for Sale Contact Agent
- 21 Mar 2019Sold for $10,604,001
Recent sales nearby
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About Pakenham 3810
The size of Pakenham is approximately 85.9 square kilometres. There are 124 parks, covering nearly 5.8% of the total area. The population of Pakenham in 2016 was 46421 people. By 2021 the population was 54118 showing a population growth of 16.6% in the area during that time. The predominant age group in Pakenham is 30-39 years. Households in Pakenham are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Pakenham work in a trades occupation.In 2021, 65.00% of the homes in Pakenham were owner-occupied compared with 65.00% in 2016.
Pakenham has 27,871 properties. Over the last 5 years, Houses in Pakenham have seen a 21.51% increase in median value, while Units have seen a 24.18% increase. As at 30 June 2026:
- The median value for Houses in Pakenham is $759,307 while the median value for Units is $543,054.
- Houses have a median rent of $560 while Units have a median rent of $500.
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