Melbourne Industrial Sales Settle

AUSTRALAND has reaped $15 million from the sale of three industrial warehouses in the western Melbourne suburb of Derrimut.

On the other side of town, at 635 Waverley Road in Glen Waverley, a private investor has paid $9 million for a 2.8 hectare site that included a 15,021 square metre office warehouse.

The sales, reported in the AFR, come as private investment group Eang and Taing put 100 hectares of englobo land to the market at 496 – 523 Frankston Dandenong Road in Dandenong South. Based on a price expectation of $250 per square metre, the site would trade for about $250 million.

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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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