This article is from the Australian Property Journal archive
MAB Corporation has experienced an influx of sales in its business parks in the west and north of Melbourne.
All but two lots in its $43 million, 34-hectare Orbis Business Park in the western suburb of Ravenhall have been sold, including five lots sold in five weeks.
Local businesses and owner occupiers have secured 93 of the 95 lots on offer, at an average of $180 to $220 per sqm, with major operators including Fuji Xerox and Salmat snapping up sites.
The two remaining sites are corner lots of 3,153sqm and 4,974sqm remain.
At its $79 million Alliance Business Park in Epping, 31,922sqm of the 62-hectare site has been sold in the past four weeks. The sold land comprises 14 lots, ranging from 1,250sqm to 10,831sqm, with sales averaging $294 per sqm and the highest rate achieving $315 per sqm.
MAB’s director of business parks, Tony Blazevic, said the influx of sales over the past few months is due to well-planned timing and the availability of development-ready land.
“The releases were timed to satisfy pent up demand from both owner occupiers and investors, as there is currently limited stock of development-ready land in the north and west precincts,” Blazevic said.
Australian Property Journal
