The former Monbulk Jam Factory has been sold to a children’s playground manufacturer as investors continue to favour value-add industrial properties over new developments.

Multiple parties were interested in the 13,683sq m factory and 21.6ha site in Melbourne’s east, 35km from the CBD, but ultimately it was the conditions of sale that sealed the deal.

Sources said it was sold for $3.96 million to the Rayner family, a future owner-occupier who owns Activity Playgrounds currently headquartered a 15-minute drive north of the Monbulk property.