Sheetmetal producer pays nearly $7 million for Melbourne industrial asset
Design Group Limited is the latest owner-occupier to snare a Melbourne industrial site.
The sheetmetal producer is paying a price speculated to be about $6.8 million for 107-109 Cherry Lane in Laverton North, which was also recently marketed for lease.
Promoted as a potential corporate headquarters, and also with exposure to the busy Princes Freeway, the modern complex includes a 4800 square metre warehouse and 712 sqm office and amenities area.
It sits in the middle of a 5512 square metre block with “full truck drive around” capabilities. It also offers numerous loading areas with multiple on-grade roller doors and canopies.
The Industrial 2 zoned site, about 15 kilometres west of the CBD, 11 kilometres north of the Port of Melbourne and 20 kilometres south of Melbourne Airport, also offers about 87 car parks.
CBRE’s Harry Kalaitzis and Todd Grima marketed the site for a private investor.
Both declined to comment about the price, but said the limited supply of land and buildings in the area contributed to strong demand for the product.
The industrial property is the latest to sell to an owner-occupier. Last week we reported Dex Collections paid Vaughan Constructions $8.5 million for an as-yet-unbuilt office warehouse in Dandenong South.
