Berkeley Apparel – which manufactured suits and other formal menswear – is selling an enormous Sunshine distribution centre.
The 2.2 hectare block at 501-503 Ballarat Road, on the south west corner of Anderson Road, is being marketed as a gateway development opportunity.
About 12 kilometres west of the Melbourne CBD, the property is expected to trade for more than $20 million following a campaign managed by Dawkins Occhiuto’s Chris Jones, Andrew Dawkins and Walter Occhiuto.
The offering includes 12,513 square metres of improvements configured as two tenancies.
Berkeley Apparel has listed the property with a part leaseback.
The asset returns total annual rent of $1.445 million.
Site suits developers – with demand expected to rise for Sunshine houses and workplaces
Within the Sunshine Activity Zone, the land allows for a variety of development outcomes including high density residential.
The government has earmarked Sunshine for strong population growth – 69 per cent by 2041 – partly as a result of the Airport Rail Link, which will pass the suburb on its route, and create employment opportunities.
The $50 billion proposed suburban rail loop will also stop at Sunshine.
Last November former premier Steve Bracks said the suburb should be the capital of Melbourne’s west, and considered as important to the city, as Parramatta is to Sydney.
The Berekely Apparel listing comes a month after the 79 Wellington Street, Collingwood former owner-occupied headquarters of rival suit seller, Travellers, was razed to make way for a hotel.