Bowens nails Melton site as part of $50m expansion plan

Bowens is paying $12.3 million for the Cobblebank site.

Bowens has picked up a 4.9 hectare block at Cobblebank, a five year old Melton growth corridor suburb.

The independent building supplies group is paying $12.32 million for the former Melton City Council controlled parcel at 27-39 Abey Road, near the Ferris Road exit of the Western Freeway.

An outlet and distribution centre to service the north west is planned – part of a $50m Victorian expansion which will also add new stores at Cheltenham and Warragul and see another four refurbished.

Bowens operates out of 16 sites in the state.

Supplying areas in most need: Bowens

The Cobblebank property is close to the 13ha Melton South site which the state government acquired from the Catholic Church last year with plans to develop the 24-hour Melton Hospital (story continues below).

It is also about 500 metres from the Cobblebank train station, which opened in 2019.

“As a market leader in the building supplies industry, Bowens is committed to supplying the best quality products and advice to builders and trades alike especially in areas where it is most need,” Bowens chief investment officer, Andy Bowen, said of the purchase.

Colliers’ Hugh Gilbert, who marketed 27-39 Abey Rd with Charlie Woodley and Nick Saunders, added that until recently there has been little demand from major occupiers looking to set up in the Melton precinct, about 35 kilometres west of Melbourne.

However, according to the executive, that changed with this campaign which attracted six bidders.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.