This article is from the Australian Property Journal archive
ASX-listed Abacus Storage King (ASK) has swooped on a long-term Mr Donut site in Melbourne’s south-east bayside region, paying $13 million for the vacant facility.
Mr Donut had occupied the 11,760 sqm site at 292-306 Lower Dandenong Road in Mordialloc since 2004. The 5,268 sqm warehouse includes cold storage and food processing facilities along with office amenity.
The property was offered with vacant possession through Rorey James, Dylan Kilner and Chao Zhang from Stonebridge, in conjunction with Steven Mostafa and Nadia Polzella of Link Business Brokers.
“The acquisition of this asset in Mordialloc addresses a network gap we identified in the Melbourne market,” said Nikki Lawson, group general manager, self-storage and fund manager ASK.
“Situated in a high-traffic area opposite a new Goodman estate and Moorabbin Airport, it offers attractive exposure for our brand and access to a community not currently serviced by Storage King.”
James said offers were received from owner occupiers, storage providers and food manufacturers, along with three bids via our is Asia practice team.
The vacant property was strategically positioned to secure interest from interstate developers and owner occupiers and in particular self-storage groups, Kilner said.
