Rental Reversion Cements Cadence’s Port Melbourne Buy

It’s good buying in Melbourne, but liquidity remains a major challenge in the market.

So says Cadence Property Group chief executive Charlie Buxton, who has just put his foot on another business park, this time at Port Melbourne.

Cadence has acquired Aquatica Business Park, a 1.7ha site at the corner of Lorimer Street and Todd Road, which comprises nine office and warehouse units with a total gross lettable area of 10,222sq m, for about $40 million from Dexus’s unlisted Wholesale Property Fund.