This article is from the Australian Property Journal archive
PLUS Property Group has paid close to $10,250,000 for a vacant shovel-ready industrial site in Truganina amid continued demand for warehouse space in Melbourne’s west.
The titled land parcel spans 13,314 sqm of industrial 1 zoning within Truganina’s Axiom Estate has been earmarked for a small unit development.
CBRE’s Lachlan May, Ricardo Cappelletti, Tom Murphy and Fergus Pragnell negotiated the sale of 27 Pauljoseph Way.
“Plus Property competed against an owner occupier to acquire the site, with a view to capitalising on strong forecast rental growth in Q4 next year when the proposed development will be completed,” May said.
The sale price reflects a price of $775 per sqm.
It is situated less than one kilometre from the freeway the on-ramp and has an approved permit for a 7,440 sqm warehouse.
