German manufacturing giant doubles down in Melbourne
EXCLUSIVE
Another Germany based manufacturing giant has bought a Melbourne property to expand – this time in the south east.
Following an off-market deal, electrical products supplier Wago has paid just over $8.4 million for 67-71 Geddes Street, Mulgrave.
On 2928 square metres, the improvement contains 2267 sqm – the bulk (1613 sqm) as warehousing.
There are also 20 car parks.
Colliers’ Richard Wilkinson, Stephanie Archer and Jonathan Mercuri were the agents.
Mulgrave is 21 kilometres from Melbourne’s CBD.
Wago will relocate from Noble Park North – five kilometres south east again – a c1663 sqm industrial building on similar sized land, it bought for $3.63m in 2021 (story continues below).
Another offshore occupier deal
Headquartered in Minden, nearly half WAGO’s c9000 workforce is in Germany.
The Mulgrave deal come a week since we reported the Australian arm of Wolfertschwenden based packaging manufacturer Multivac outlaid $17.25m for an office/warehouse at Keilor Park.
Like 67-71 Geddes St, that property was purchased following the launch of a leasing campaign.
Like Wago, Multivac owns its existing, smaller Melbourne base too.
Subscribe to our newsletter at the bottom of this page.
