Wilbow Group to develop business park in Melbourne’s Preston

The Bowness family, which sold its Wilbow Corporation Australia Pty Ltd business to Queensland’s FKP in 2006, is developing a major business park in Melbourne’s north.

The Advanced Business Hub, proposed to replace a textiles factory at 8-14 Albert Street, Preston, will contain 33 contemporary office warehouses within a security-gated complex.

The building areas range in size from 88 square metres to 204 square metres, and the prices, from $350,000 to $775,000.

Artist’s impression of a double-storey office/warehouse interior.

ICR Property Group managing director Raff De Luise said the Advanced Business Hub is “the first of its kind in Preston, with every unit to include a fully equipped kitchenette and shower facilities”.

Mr De Luise said the warehouses will be targeted to investors and owner-occupiers seeking “to secure a premium commercial property in a tightly held industrial pocket”.

Preston is about 10 kilometres from the CBD.

Advanced Business Hub is being developed by Wilbow (Waterdale Road Pty Ltd), a subsidiary of the Wilbow Group which is controlled by the Bowness family.

Wilbow Group has since 2006 invested in, and undertaken residential, commercial, industrial and land subdivision developments.

The complex is earmarked for 8-14 Albert Street, Preston.

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Marc Pallisco

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

Marc Pallisco