An enormous Campbellfield industrial property with development upside has sold to an owner-occupier in the building sector for $7 million.
The 2.3 hectare holding covers the addresses of 1620 Sydney Road and 45 Paulson Road, about 20 kilometres north of the Melbourne CBD.
Offered with vacant possession, the asset contains two offices and warehousing. The lettable area totals about 4411 square metres.
The buildings cover a very small area of the site.
Marketed as “the complete package” and with “endless” potential, the Industrial 1 zoned plot could make way for a business park.
The property is near to the Western Ring Road and Metropolitan Ring Road and also the Craigieburn bypass, connecting it to developing northern suburbs including Donnybrook, Epping, Kalkallo and Wollert.
Knight Frank said the property was hotly contested with significant interest from owner occupiers, developers and investors.