Vacant north Melbourne industrial sites earn c$27m

Intex’s proposed Epping headquarters.

Three mid-north Melbourne industrial blocks are selling for a total of c$27.4m.

In the latest deal, Genesis Property is paying $9.1m for a 1.63 hectare site at 142-150 Cooper Street, Epping (pictured, top).

Part of an urban renewal zone, the land is zoned Activity Centre.

CBRE selling agent Daniel Eramo, who marketed the property with Nathan Mufale and David Minty, said the area is one of the city’s fastest growing; the property was advertised for its potential to make way for Build to Rent product, a hotel, office or medical facility.

It presently contains two warehouses – the biggest spreading 1800 sqm.

Elsewhere in the suburb, Intex Group has paid $11.3m for a plot within Vaughan Constructions’ Biodiversity Business Park (story continues below).

The Thomastown site is about 17 kilometres north of Melbourne.

The wall and ceilings supplier is intending to build a 7591 sqm headquarters with offices.

The group is currently based at nearby Campbellfield.

Meanwhile in Thomastown, one suburb south, a vacant 1.82ha industrial property at 333 Cooper St is selling for a speculated $7m.

The site contains a 5000 sqm vacant building.

CBRE was again the agent.

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Marc Pallisco

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

Marc Pallisco