Major Industrial Development Sites in Truganina Expected to Fetch $12 Million

RECEIVERS for the owners of a versatile 555-hectare Truganina property, the largest asset measured by area to hit the market last year, are selling down the property in smaller chunks.

After failing to sell for a total $100 million in separate campaigns in 2010, and 2011, four industrial development sites, each measuring about 42 hectares are now for sale, in a campaign being managed by Biggin Scott Commercial’s Andrew Egan and Frank Nagle.

Accessed via Hopkins Road, the blocks are expected to sell for about $3 million each.

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Coles, Toll Issue Major Industrial Lease Requirements, Melbourne

TWO of Australia’s largest conglomerates have quietly circulated industrial leasing requirements seeking new, supersized Melbourne factories.

In the biggest tenancy request, the Wesfarmers owned Coles Group, from Perth, is looking for a purpose built office warehouse of close to 80,000 square metres – or almost the same size as the Rialto towers, by floor area.

Coles, which last month reported more than triple the quarterly sales growth of rival, Woolworths, will consider sites all over metropolitan Melbourne for its new major distribution centre.

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Marketing Commences of $100 Million Braeside Industrial Estate

BALMAIN Trilogy, the new manager for the embattled Pacific First Mortgage Fund and City Pacific, has seized control of a $100 million industrial development in Melbourne’s outer south-east.

Construction of the first industrial warehouses on the 30-hectare parcel in Braeside, should now start within months.

Balmain has released 33 blocks in the first land subdivision covering 5.7 hectares.

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