Neighbour buys ex-BOC office, yard
A neighbour has bought a Melbourne office, distribution centre and storage yard owner-occupied since the 1980s by gas and welding group BOC Limited.
The Dandenong South property, 111 Frankston-Dandenong Road, cost $12.1 million.
On 1.55 hectares zoned Industrial 1, and vacant, it was marketed to owner occupiers, developers and investors.
It abuts a Focus on Furniture showroom investment on 3494 square metres which traded for $2.9m in 2016.
“The buyer had been actively seeking expansion opportunities in the area and intends to deliver an industrial state within the established logistics and manufacturing hub,” CBRE agents Alex Grima and Sasan Misaghian said.
“The purchaser already holds assets nearby so this acquisition was a logical extension of their…portfolio,” according to the executives (continues below).
“They recognised the long-term value of securing another infill development site in a land constrained market,” they added.
Linde Group owns BOC.
BOC is owned by Germany’s Linde Group.
The Dandenong South property was listed after being deemed surplus to needs.
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