ANOTHER prominent inner-city site, formerly occupied by 63-year old car dealership Flinkier Motors, has hit the market. This time at 390 – 396 Dynon Road in West Melbourne, a 1517 square metre site with residential or commercial redevelopment potential is expected to fetch about $1.4 million. The site was until recently occupied by National Hire and is still configured as an office warehouse. It’s surrounded by a mix of low rise industrial warehouses and the Maribyrnong River, which is also the Footscray suburb border. [...]
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A LOCAL developer has paid $17 million at auction for a major development site in Dandenong South – the heart of industrial activity in Melbourne’s south-east. Three bidders competed to buy the 32 hectare site, which has a massive 501 metre frontage to the busy Frankston Dandenong Road and is near the Thompson Road junction of Eastlink. The site was marketed as an opportunity to own and masterplan a major industrial subdivision. Industrial zoned land in the south-east is more limited than in the western and northern suburbs, which is why land values and rents are higher. [...] AUSTRALAND has reaped $15 million from the sale of three industrial warehouses in the western Melbourne suburb of Derrimut. On the other side of town, at 635 Waverley Road in Glen Waverley, a private investor has paid $9 million for a 2.8 hectare site that included a 15,021 square metre office warehouse. The sales, reported in the AFR, come as private investment group Eang and Taing put 100 hectares of englobo land to the market at 496 – 523 Frankston Dandenong Road in Dandenong South. Based on a price expectation of $250 per square metre, the site would trade for about $250 million. [...] COLES Group Property Developments is understood to have paid about $6 million for a major retail development site in Coburg. The 1.75 hectare property at 180 – 196 Gaffney Street also has access to Sussex, Lens and Marion streets – making it a prime site for a mixed use project including apartments and offices, as well as a supermarket-based shopping centre. The site is currently a collection of industrial warehouses spread across fifteen titles. [...] COLES Group Property Developments is understood to have paid about $6 million for a major retail development site in Coburg. The 1.75 hectare property at 180 – 196 Gaffney Street also has access to Sussex, Lens and Marion streets – making it a prime site for a mixed use project including apartments and offices, as well as a supermarket-based shopping centre. The site is currently a collection of industrial warehouses spread across fifteen titles. [...] |
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