Webb Group May Buy Sydney Road Brunswick Development Site

A portfolio of industrial properties on a 4184 square metres block of land with street frontage to Albert Road and Sydney Road, has been put to the market and is expected to sell for more than $8 million.

The property has blocked the Webb Group – owned Safeway supermarket – and two large car parks, from having direct access to the busy retail strip.

Amalgamated, the two sites would measure over a hectare, have three street frontages, and connect the Brunswick train station to Sydney Road.

Capital Gain could not contact Les Webb prior to going to print.
CB Richard Ellis senior manager Walter Occhuito, who is marketing the property, said he expects the site to arouse interest from residential, retail and office developers.

He declined to comment whether the Webb Group had shown an interest.

The sale comes less than 12 months after receivers sold a 6000 square metre Brunswick site, once owned by convicted drug dealer Tony Mokbel. Knight Frank sold the property to a private investor for around $6 million.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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