CSR banks $29m from Melbourne warehouse
CSR has sold a major former manufacturing plant held 46 years.
The 3.66 hectare holding, 159-171 Wellington Road, Clayton, is trading for $29 million to an occupier.
The property was listed mid-last year.
It was also unsuccessfully offered in mid-2015.
159-171 Wellington Road
Part of the Monash National Innovation and Employment Cluster – the state’s biggest employment zone outside of the CBD and fringe – 159-171 Wellington Rd contains 9485 square metres of improvements, covering 26 per cent of the block.
About 2.1ha is configured with hardstand.
CSR offered it in 2015 with vacant possession or as a cleared site; it had been occupied since 1980 by CSR Gyprock.
In recent years, it has been an investment.
The incoming owner plans to also rent out part of the property.
The balance will be used for manufacturing.
AND Property’s Bryce Pane with JLL’s Lachlan Ferguson were the agents.
“159 Wellington Rd stood out due to its scale, flexibility and strategic location within one of Melbourne’s most tightly held industrial and technology precincts,” they said.
More to come.
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