Two Tasmanian industrial sales top $29m, led by Western Junction
A Western Junction cold-storage facility sold for $15.85m and a PFD Foods asset at Derwent Park for $13.375m, realcommercial reports.
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Two Tasmanian industrial properties sold for more than $29 million combined, realcommercial reported on 13 November: a cold-storage facility at Western Junction, near Launceston, and a PFD Foods asset at Derwent Park in Hobart’s northern suburbs.
Why it matters
Both properties are industrial assets on long leases, and CBRE handled both sales. The Western Junction deal also carries a regional marker: CBRE’s George Wilkinson called it Launceston’s largest industrial property sale of 2026, a claim made by the broker rather than checked against other records.
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CBRE’s Shaun Venables said cold storage and food-grade industrial facilities are tightly held and that comparable stock in Tasmania is extremely limited. Mr Wilkinson said the asset’s place in the state’s freight and logistics network was a major drawcard, and that the buyer saw substantial underlying land value alongside a national tenant in the pet food supply chain.
The numbers
The Western Junction property at 13 Richard Street sold for $15.85 million. Realcommercial describes it as a purpose-built food-grade manufacturing, cold storage and distribution facility in the TRANSLINK Airport Industrial Precinct, near Launceston Airport.
Key details reported for the site:
- A freehold landholding of 2.385 hectares.
- A building of 7,355 sqm with temperature-controlled production areas, cold storage infrastructure and a refrigerated annex serviced by 12 loading docks.
- Nature’s Best (Tas) Pty Ltd as tenant, which realcommercial describes as the manufacturing and wholesale arm of Pet Solutions International.
- A 15-year lease running to 2041, with four further five-year options.
- Annual net income of $1.1 million, with fixed annual rent increases of 3 per cent.
The PFD Foods asset at 2-4 Bender Drive, Derwent Park, sold for $13.375 million. It sold at a yield of 5.84 per cent at CBRE’s most recent Portfolio Auction, and realcommercial names Woolworths as the national tenant on a long-term lease. CBRE senior director Yosh Mendis said the sale showed rising investor demand for premium industrial and logistics assets backed by long leases to proven national tenants.
On the bidding, Mr Mendis said: “The property saw competitive bidding from investors across Australia, eventually selling to an interstate investor.”
The Western Junction sale was brokered by CBRE’s Mr Venables, Mr Wilkinson and Lee Holdsworth, together with David Webster and Cale Ayers of Elders Tasmania.
What’s next
Realcommercial does not name either buyer or give settlement dates. The report mentions no other sales from the portfolio auction. Earlier Tasmanian commercial deals are in our fortnight roundup.
Sources: realcommercial, “Two Tas sales tip scales at $29m-plus”, 13 November 2026.
Quick answers
What are the key numbers in this story?
Western Junction: $15.85m; Derwent Park: $13.375m; Derwent Park yield: 5.84%.
Where does this information come from?
This story cites realcommercial. Every source is linked on the page.
Sources
Also reported by
- realcommercialTwo Tas sales tip scales at $29m-plus
Filed by the AusDev Tasmania Desk. How we report.