A shortage of industrial land and tight vacancy rates in Melbourne’s east are expected to drive strong demand for a new collection of industrial lots.
In the heart of Melbourne’s highly sought after industrial precinct in Glen Waverley, the Myrtle Collection is a freehold opportunity spread across two titles.
Colliers’ Andrew Chrapot and Harry Larwill have been appointed to sell the two separate land allotments individually or as one 4,142sqm land parcel in a generic rectangular shape perfect for redevelopment.
The agents are quoting in excess of $1,750/sqm on the land.
“This is a unique opportunity to acquire a significant land holding located within one of Melbourne’s most desired and tightly held key infill industrial precincts,” Andrew says. “The properties are underpinned by a gentrified industrial/commercial market and a booming residential catchment supported by major occupiers and shopping destinations.”
The upcoming sale is the first time the asset had been placed on the market in more than 50 years.
“The continuing low interest rate environment coupled with significant Government investment in infrastructure and robust underlying fundamentals of industrial property in Australia, will ensure that The Myrtle Collection will attract immediate attention from the market as one of the strongest industrial freehold opportunities for 2021,” Harry Larwill says.
Located 23km from the Melbourne CBD and surrounded by an abundance of major arterials including Waverley, Blackburn and Springvale Roads as well as High Street, the properties offer excellent access to The Monash Freeway and Eastlink.
Myrtle Street is bound by amenity including Glen Waverley Train Station, The Glen Shopping Precinct, Kingsway entertainment/food precinct and Brandon Park Shopping Centre.
The Myrtle Collection is being sold via Expressions of Interest campaign closing 10th November 2021 at 4pm.
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