Mega Homes Williamstown HQ sold

The Williamstown office/showroom contains a 550 sqm canopy.

The Williamstown headquarters of Mega Homes, a company which received a Notice of Winding Up order earlier this year owing $18 million, has sold.

The asset, 10 Ponting Street, is trading to another owner-occupier for $3.375 million.

On 4427 square metres of Industrial 1 zoned land, the 2109 sqm building is configured as an office, showroom and warehouse. The investment also includes a 570 sqm canopy.

Sutherland Farrelly’s Paul Sutherland represented Brent Morgan of Rodgers Reidy, the agent of the mortgagee, Commonwealth Bank of Australia.

Part of 10 Ponting Street’s showroom.

“The property created interest from owner-occupiers, developers and investors,” Mr Sutherland said. “The existing improvements provide a degree of flexibility for modification or redevelopment and the site has underlying land value.

“The property boats excellent accessibility to major transport linkages including the West Gate Freeway, Princes Freeway and Western Ring Road”.

Williamstown is about 16 kilometres west of the Melbourne CBD.

Mega Homes took over the unfinished projects of another Melbourne home builder, Watersun Homes, which collapsed two years ago.

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Marc Pallisco

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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