This article is from the Australian Property Journal archive
THREE former State Electricity Commission properties at Morwell in Victoria’s LaTrobe Valley region have been sold by Savills Australia.
The properties, three of five auctioned in front of a lively crowd of local businesses and developers, sold to earth moving company, Douglas Trucking, and industrial painting and cleaning company, AsClear.
Savills senior industrial executive Keith Kooloos said Douglas Trucking, a local contractor with equipment in local open cut mines, purchased Lot 3A Miners Way – a 6.774 ha, fully fenced site with 50% hardstand – for $350,000.
Lots 3 C and 3D, which were offered as one, was snapped up by AsClear for $365,000. AsClear will use the property as a workshop and works depot.
Two further allotments, Lot 3H Miners Way – a 1.073 ha site with full hardstand – was passed in and is now for sale at $350,000, and Lot 6A Commercial Rd – a 1.005 ha site with high exposure on Hazlewood Drive roundabout and full hardstand – was also passed in and is now for sale at $450,000.
Kooloos said there had been strong interest in all lots and negotiations with parties on the remaining lots was continuing. He added that the owners – McCormack Demby Timber which operated a saw mill on the site in recent years – would also consider leasing the remaining sites.
Kooloos sold the former McCormack Demby Timber operation, last month. The Lot 3B Rail Rd property comprising 14,000 sqm of buildings on a 3.6 ha site, was purchased by Yates Garden Products for circa $3.2 million.
Property Review
