Occupier swipes major industrial site from developer
An occupier has swooped on an irregular shaped Clayton South industrial asset four days ahead of the close of an expressions of interest campaign.
The 2.26 hectare holding with just 3910 square metres of improvements at 502-520 Clayton Road fetched $21 million.
It was last reported as trading in May, 2022, for c$23 million.
That buyer, developer Matter Projects, planned a bulky-goods-based asset also with a major service station.
It beat six parties for the property.
This time around, three were shortlisted – all planning to occupy.
AND Property’s Bryce Pane, Ben Quennell and Ricardo Cappelletti were the agents.
Occupiers drive demand
Zoned Industrial 1, at the north east corner of Fairbank Rd, the site has a total c350 metres frontage with multiple access points (story continues below).
Buildings cover just 17.3 per cent – a quarter of the area (994 sqm) is offices.
There is also 9000 sqm of hardstand with a wash bay and triple interceptor.
“Significant land holdings within the southeastern corridor are seldom bought to market and as such the campaign generated enquiry from a vast array of occupiers looking to secure a substantial foothold within this tightly held precinct,” Mr Quennell said.
“Owner occupiers are seeing a great opportunity to purchase strategic sites with developers and investors being less aggressive in recent times,” he added.
Clayton South is 20 kilometres south east of Melbourne’s CBD.
More to come.
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