Colliers’ Sam Hammond negotiated a Perth-based sale for $14.5 million while Fraser Pearce, Sam Hibbins and Luke Lowden have transacted a prime 3965 sqm industrial site in Melbourne’s south east.
The Osborne Park Car Yard in WA sold in an off-market transaction representing the first significant sale of such a property in Osborne Park in recent years.
380-384 Scarborough Beach Road, Osborn Park has a total area of 12, 182 sqm. The Leased Car Yard is home to an ASX listed tenant and is in Perth’s premium automotive precinct.
Sam completed the deal off-market to a private investment company. The sale represents a significant milestone with Osborne Park being a such tight market,” he says.
“There have been few transactions of scale in the area over the recent years, making this deal a turning point in the market. The property hasn’t changed hands in over 30 years, making the sale extremely noteworthy to investors.
“The benefits of an ASX-listed tenant and the site’s location in Australia’s best performing bulky goods prominent display precinct, make for a great investment decision for property owners.”
Colliers’ Victorian agents Fraser, Same and Luke managed the sale of a Hallam property to a local owner-occupier for $4.1 million – representing a strong land rate of $1034 per sqm.
The low site-coverage offering at 73 Star Crescent comprises a 360 sqm functional warehouse/office with crushed rock yard, located within the heart of Hallam’s industrial precinct and presented as a blank canvas opportunity for either developers or owner-occupiers.
“The asset presented as a rare opportunity to acquire a prime land holding in a tightly held, core industrial location within the southeast, which led to a competitive campaign with over 60 inbound enquiries, yielding six formal offers,” says Fraser.
The purchaser will utilise the existing site improvements and yard space and will re-position the property in the long term as the business expands.
The Hallam manufacturing and logistics precinct is located just 40km from Melbourne’s CBD, offering excellent access and connectivity to Monash Freeway (M1), South Gippsland Freeway, Princes Highway and EastLink (M3), as well as proximity to public transport.
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