Occupier pays $23m for shovel-ready office/warehouse site
Nutrien Ag has sold a west Melbourne site permit-ready for a major office/warehouse.
The 2.254 hectare Industrial 2 zoned parcel, 4-6 Cambridge Street, Laverton North, found favour with an entity backed by Fiji based steel manufacturer, SNP Holdings.
Worth $23.1 million including GST, the deal settled January.
Colliers’ Stephen Ryan, Charlie Woodley, Nick Saunders and Hugh Gilbert were the agents.
Shovel-ready site
Nutrien Ag offered the predominantly hardstand Laverton North block permit-ready for a 10,423 square metre improvement – 683 sqm to be configured with offices, the balance as warehousing.
It undertook siteworks so any incoming owner can begin construction immediately too – making it shovel-ready for anyone wanting to proceed with the approved plans (story continues below).
“Situated within the City of Wyndham, [4-6 Cambridge St] serves as an idea location for warehouse and logistics businesses with major arterials at the doorstep including the M80 Western Ring Road,” the agents said upon listing the asset mid-last year.
“The Wyndham council area is recognised as one of Australia’s fastest growing regions, boasting expanding residential catchments and a population that now surpasses…the City of Geelong,” they added.
“Recent substantial investments have been directed towards enhancing infrastructure in the immediate vicinity…[including] the establishment of new train stations and various road duplication projects, significantly improving connectivity and accessibility for businesses operating in the area,” according to the executives.
Laverton North is about 18 kilometres from the CBD.
The Cambridge St site is about 700 metres to the Fitzgerald/Boundary Road intersection and twice that to the M80.
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