This article is from the Australian Property Journal archive
AN owner-occupier has picked up a modern freestanding warehouse and office facility in Melbourne’s south-east in a $13.7 million off-market deal.
Well-equipped with infrastructure, including a natural gas connection and high power supply, the 4,964 sqm facility at 9 Quality Drive in Dandenong South proved to be highly appealing to a broad range of manufacturing and warehousing occupiers
Colliers’ Gordon Code, James Stott, and Daniel Telling managed the campaign.
The 11,616 sqm site sold for $13,712,500, representing a land value rate of $1,180 per sqm.
Located is one of Australia’s most established industrial precincts, the property provides easy access to major transport links such as Greens Road, Eastlink, South Gippsland Freeway and Monash Freeway.
“Melbourne’s south-east has recorded significant growth over the past five years, underpinned by heightened levels of occupier demand, facilitating new supply and market expansion,” Stott said.
“The area is considered one of the country’s most tightly held industrial markets, supported by its proximity to a large and growing population, access to key infrastructure, and diminishing land availability.”
Colliers data shows Melbourne’s south-east industrial market has tight vacancy rate of just 1.35%, compared with total Melbourne vacancy of 2.6%, due to limited land supply and a weak speculative pipeline.
