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.