Land-rich Melbourne industrial assets fetch $24m
Two land-rich industrial assets in Melbourne’s south-east have sold this week.
In Dandenong South, a 1.7-hectare site at 493-497 Frankston Dandenong Road (pictured, top) collected $17.56 million from a Perth-based owner-occupier expanding into the state.
The result prices the Industrial 1 zoned land at $1031 per square metre.
Crabtrees Real Estate’s Pana Kritikos and Grant Tishler with GO Commercial Industrial’s Andrew O’Connell and Robert Colaneri were the agents.
Meanwhile, a 7798 sqm Moorabbin industrial holding has sold to developer EO Developments for $6.65m including GST.
At 130-140 Herald Street, it contains 1052 sqm of improvements including a 372 sqm showroom, office, two sheds and workshops (continues below).
Vacant, it was marketed for its potential to yield a multi-unit business park or a corporate headquarters, with 77.5 metres of street frontage.
Knight Frank’s Steven Salopek and Stuart Gill were the agents.
The result prices the land, classified as in Cheltenham, at c$853 per sqm.
More to come.
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