MAB Replaces Westgate Toll Collection Facility, Port Melbourne, with Expressway Business Park
Having rebranded the land as Expressway Business Park, MAB is now selling three subdivided blocks.
The biggest block, known as Lot 10, measures 2822 square metres . It’s arguably the most valuable given its high profile position at the westernmost edge of the estate, and abutting a busier portion of the freeway that is not an off-ramp.
Two smaller blocks, known as Lot 8 and Lot 9 and each measuring just over 1000 square metres have also just been listed for sale.
Sources expect the combined sites will sell for a total of $10 million but this could not be confirmed with a MAB representative who was unavailable for comment. Owner occupiers, or developers that may further subdivide the land are expected to bid.
After any sale, MAB will still control a substantial 2.6 hectares (or 26,351 square metres) of the Port Melbourne site.
Jones Lang LaSalle’s Ashley Buller and Lincoln Reynolds are marketing Expressway Business Park with MAB’s Nick Schofield.
