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.
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.