The Real Deal – Leitchville Factory SOLD!

After years of on and off again sale fall throughs, SAPUTO Dairy Australia has now confirmed that the former milk processing plant in Leitchville has been sold. 

At a critical time with big shifts within the real estate market due to COVID-19, and bucking downward trends in Metropolitan Melbourne areas, the current climate is opening the gate to regional Victoria.

With new country lifestyle living and future business opportunities for city dwellers, all are waiting for state restrictions to ease.

The real estate boom has taken the industry by surprise and with this, regional Victoria has captured ‘a tree changer’ move for the new owners of the factory, a Melbourne investor striking it lucky!

The former Murray Goulburn Factory, closed 10 years ago, has left a huge void for employment within the town and local and surrounding communities and suppliers.

In the welcome announcement, Rochester’s Ray White Real Estate Principal Director and Officer in Effective Control, Rob Hosking shared the positive news.

“When this [COVID-19] all first started, we thought things would go a bit quiet but it has been to the contrary. We’ve had a real influx of interest from people out of Melbourne – everywhere, really.

“Our sales would be well and truly over and above normal.

“It’s (the Leitchville Factory) is definitely sold. Settlement is at the end of September, an unconditional contract.

“I don’t think the new owner is totally sure on what he intends to do with it. Parts will be available for rent, I would imagine. He will probably strip the factory out a little bit. There’s a lot of stainless steel he will probably on sell.

“That’s about where it is at the moment. He hasn’t said a lot about what he’s going to do. 

He’s just bought it as an investment, I guess and time will tell. Watch this space!”

The contracts have been signed for over two months, quite some time. They are Melbourne based.

“The whole real estate industry right across northern Victoria has certainly seen I suppose a boom time in sales. A lot higher than what we would’ve expected under the current situation. There is a real push for people to be moving out of Melbourne, there’s no question about that.

“COVID-19 has changed peoples’ mind set. They can work from home, they can be productive from home and I think that it has changed for the longer term, it really has.

“They do have to meet the requirements (to move to the region pending restrictions) that is an issue for some but as far as inspecting properties people are buying them unseen by photos.

We have also been doing some video work through our local lady who does all our photography work and that seems to work pretty well.

“I’d never done that before COVID-19. A lot are buying unseen and their emotions are running away. It’s crazy!”

The opportunity for Melbourne-based businesses to set up in regional Victoria and work within the local region is very accessible over time.

“People will be working from here and they may have to go to Melbourne one day a fortnight or something like that to touch base with the office but a lot of people will be concentrating on working from home…

“People want to bring up their family in the country.

“It’s all positive and it can only be good for country Victoria.”