Epping industrial portfolio sells for $47.75m after five bids

A local investor has bought the Dream Haven Portfolio, an industrial holding covering much of a street in Epping, in the City of Whittlesea, for $47.75 million, Real Estate Source reported on 8 October 2026.

Why it matters

The portfolio carries a weighted average lease expiry of just 2.83 years, yet it still drew five expressions of interest. For owners of short-lease industrial stock in Melbourne’s north, that is a data point on pricing: a 6.1% yield was enough to clear a competitive process even with rollover risk close at hand.

The sale also shows how buyers value land assembly. The vendor, described by the outlet as the founding family of the Dream Haven bedding and furniture company, put the holding together and developed it from the mid-1990s. A buyer now gets six tenancies on five titles in one precinct, which is the kind of consolidated position that is hard to rebuild parcel by parcel. Fitzroys, which ran the sale, framed Epping as the “CBD of the north”, citing rental reversion and value-add potential.

Site coverage is worth noting for developers. Buildings of 27,539 sqm on 4.88 hectares work out to roughly 56% of the combined land area being built on, using the outlet’s figures. That leaves limited vacant land, so any upside is more likely to come from re-leasing or redevelopment of older stock than from new floor space on spare ground. Industrial land of this scale in the City of Whittlesea is also a reference point for anyone pricing nearby sites.

The numbers

• Price: $47.75 million for six tenancies across five titles.
• Land and buildings: 4.88 hectares with 27,539 sqm of improvements.
• Income: $2.894 million in annual net rent, a 6.1% yield (our check: $2.894m divided by $47.75m is about 6.06%).
• Lease profile: weighted average lease expiry of 2.83 years.
• Tenants named by the outlet: All About Steel, D2 Steel, Cooling Brothers, Convair Engineering, Creative Composites and K Care Healthcare Solution, predominantly manufacturers and industrial businesses.
• Agents: Marco Sandrin and Brent Glassford of Fitzroys. Mr Sandrin said the campaign drew five expressions of interest, and that “Buyer sentiment is improving and we expect that trend to continue throughout the final quarter of 2026.”

The buyer is described only as a local investor. Neither the buyer nor a settlement date was named in the report we could access, and we have not independently confirmed the vendor’s identity, which comes from a single outlet. commercialrealestate.com.au also covered the sale, but its page was not retrievable for us, so no figure here relies on it.

What’s next

With only a short lease runway, the new owner’s first task is re-leasing across six tenants, where any rent reset against the existing $2.894 million will drive the return. Mr Sandrin said some $180 million of capital is still pursuing Melbourne commercial opportunities, which suggests further north and west industrial trades are likely to be tested over the coming quarter. Investors weighing similar short-WALE industrial holdings will watch whether the buyer holds the six tenancies together or later splits the five titles for resale, since either path tests how deep demand runs below $50 million. Neither outcome has been announced. For the wider picture, see our Melbourne market hub.