Owner Occupiers Spend $15 Million on Altona Properties

Viking Transport has paid $12 million for a 10-hectare industrial facility in Melbourne’s west.

The purchase, of 441 – 459 Kororoit Creek Road will be the fourth owner-occupied site in the area for the transport and logistics group.

Knight Frank selling agents Matt Crofts and Andrew Macqueen said that with industrial vacancy rates levelling at about 4 per cent during the economic downturn, demand from both tenants and investors has been strong.

Elsewhere in the area, General Property Trust has made $3.1 million from the sale of a 5285 square metre office warehouse facility at 24 – 46 Westgate Drive, Altona North.

Hong Australia, a wholesale distributor responsible for delivering Victorians SPAM and Sun Rice, purchased the site which was marketed by Colliers International.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.