This article is from the Australian Property Journal archive
MELBOURNE based Moama Developments has paid $1.323 million for a development site with a permit for a new building at Carrum Downs in Melbourne’s outer south-east.
According to conjunctional agents, Savills Australia’s Marcus Campagna and Joseph Catanese and Cameron Industrial/Commercial’s Peter Blake, Moama had paid a premium for a site with plans and a permit in place, at $205 a sqm.
Campagna said the average price for land in the area was around $190 a sqm. The vendor was Concord Gardens Pty Ltd
Located at 4 Capital Place, the property comprises a 6,455 sqm industrial site with plans and permits for a 3,700 sqm office and warehouse facility.
Campagna said the property also had the advantage of several access points as well as close proximity to EastLink and the new $759 million Peninsula Link freeway which is due for completion in early 2013.
Blake said Moama would begin construction immediately.
Australian Property Journal
