This article is from the Australian Property Journal archive
CLAYTON Property Custodian Pty Ltd has sold an industrial site in Clayton for $21 million to an owner occupier, following a competitive campaign.
The property at 502-520 Clayton Road in Clayton, around 19km south-east of the Melbourne CBD, spans a 22,590sqm site with a 3,910sqm office/warehouse building and an expansive concrete hardstand.
Bryce Pane, Ben Quennell and Ricardo Cappelletti from AND Property managed the sale via an expressions of interest campaign, which generated interest from more than 50 occupiers.
“Following our proactive canvassing strategy, the expressions of interest campaign was brought forward 4 days due to heated competition between 3 owner occupiers, with the property selling on the 13th of June,” said Pane.
The successful purchasers, who bought the site at a sale rate of $929 PSM, plans to maximise the low site coverage and the main road exposure to Clayton and Fair Bank Road.
“Significant land holdings within the Southeastern corridor are seldom brought to market, and as such the campaign generated enquiry from a vast array of occupiers looking to secure a substantial foothold within this tightly held precinct,” said Quennell.
“Owner occupiers are seeing a great opportunity to purchase strategic sites with developers and investors being less aggressive in recent times” added Cappelletti.
The Industrial 1 zoned corner site also boasts dual street frontages and multiple access points, in addition to an on-site wash bay and triple interceptor.
The warehouse spans 2,916sqm with a separate 565sqm workshop, with the office area spanning 994sqm with a main office and 546sqm of amenities.
The property is located within close proximity of Monash employment cluster, the Monash precinct, the Monash hospital and Chadstone Shopping Centre.
It is also accessible via major links including the Monash Freeway and Princes Highway.
