An interstate owner occupier has purchased a 1.6ha site in Dandenong South, adjacent to the ALDI Distribution Centre, to develop its new Melbourne headquarters for production and distribution.
A building product specialist plans to develop a state-of-the-art facility spanning 8,000sqm on the property, situated at Lot 6, 91 Colemans Road.
CBRE’s David Aiello and Patrick Noone negotiated the off-market transaction on behalf of Chadwick Investments. The sale reflected a record land rate of circa $510 per square metre for Dandenong South.
David said the sale highlighted the diminishing supply of ‘ready to develop’ industrial land in Melbourne’s south eastern market.
“The record land rate achieved for a block this size is testament to the underlying demand to be in Dandenong South from industrial businesses distributing product within Metropolitan Melbourne.”
“A distinct increase in the volume of sales since the announcement of the new intermodal hub which will be less than five minutes away,” Patrick said.
The site, which boast dual street frontage onto Colemans Road and Jamieson Way, enables full drive through capabilities.
The transaction was one of seven for Chadwick Investments in the fourth quarter of 2021 – and leaves just one 24,000sqm lot remaining in its Colemans Road Industrial Estate.