A private investor has picked up a 7,036sq m office/warehouse in Dandenong for $8.45 million.
A private investor has picked up a 7,036sq m office/warehouse in Dandenong for $8.45 million, as part of a booming trend of buyers actively pursuing investment opportunities in Melbourne’s south-eastern industrial market.
Savills Australia’s Kosta Filinis brokered the deal for 34-46 Evolution Drive at a rate of $1,200 per sqm on behalf of Campbell Constructions.
“There are limited assets available in this market and diminishing serviced land supply, which is pushing land rates up,” Mr Filinis said.
“This sale is an example of investors increasingly moving up the risk curve by pursuing acquisitions of vacant properties.”
Mr Filinis said his team anticipated the industrial sector would remain “the most sought-after asset class for the foreseeable future”.
“Strong absorption, relatively conservative speculative development, and forecasts for continued strong job growth have transformed the south-eastern industrial precinct into a sellers’ market,” he said.
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