Pelligra Group buys 20.8 hectare Ravenhall super-site
EXCLUSIVE
Pelligra Group has acquired another industrial development site in Melbourne’s west.
The diversified builder and investor is paying $25.3 million for the 20.8 hectare irregular shaped site at 31 Fuller Road, Ravenhall.
Zoned Industrial 3, in the heart of Ravenhall’s industrial precinct, the block had formerly been approved for a subdivision.
CBRE’s Todd Grima, Harry Kataitzis and Tom Hayes marketed the holding for a private investor.
The brokers said the land was one of the last undeveloped englobo parcels in the suburb.
Pelligra Group intends to use its construction arm to build a high quality industrial park at its new Ravenhall block, an investment it will retain.
The East Keilor based developer already owns substantial industrial land in Melbourne’s west.
Last September we reported Pelligra Group acquired the 39-hectare former Huntsman Chemicals factory at 454-460 Somerville Road, Brooklyn.
Pelligra Group plans to replace this block with a major industrial park. The builder is seeking tenant pre-commitments, again via CBRE.
Two years ago, Pelligra Group acquired the former General Motors Holden car making plant in Adelaide’s Elizabeth North.
In May we reported that Pelligra Group acquired three former Ford production plants, in Geelong, and Campbellfield.
These Victorian factories are set to be retrofitted into industrial workspaces, and retained as investments.
In the past 24 months Pelligra Group has also acquired as development sites: the outgoing Franco Cozzo showroom in Footscray, and SEN Radio studio in Richmond, which it immediately earmarked for a mixed-use project.
