This article is from the Australian Property Journal archive
SELF-storage developer Impact Designer Homes has won out from strong competition to purchase a warehousing site for $9.6 million, in what the agents say is the northern Melbourne suburbs’ first large-scale industrial sale in three years.
A dozen parties submitted offers for 25-31 Brisbane Street in Eltham, with the final sale price clearing the vendor’s reserve by more than $1 million.
The 6,571 sqm corner block opposite Bunnings Eltham, near Eltham’s town centre and train station, is currently improved by two warehouses totalling 4,731 sqm.
CBRE’s Joe Brzezek, Sasan Misaghian and Alex Grima brokered the sale on behalf of the De Neefe family. Addressed at the site is the national company De Neefe, a subsidiary of ASX-listed Traffic Technologies Ltd. De Neefe was established in 1926 and which is one of the country’s largest manufacturers of fixed metal traffic signs. It also manufactures traffic control products including vests, brackets, cones and bollards, as well as corporate signage for both government and private sectors.
Brzezek said this was the first sale of a large-scale industrial site in Eltham for three years.
“We fielded more than 100 enquiries, including strong interest from owner occupiers, developers and self-storage industry participants.”
