Demand for quality industrial stock continues, as buyers run rampant in Melbourne in a bid to snap up their own warehouse.
In a clear sign of strength for the smaller scale industrial market, Ray White Commercial Oakleigh agent George Kelepouris has completely sold a collection of 13 architecturally designed warehouses in an exclusive industrial pocket of Melbourne’s west – The Paramount Estate.
The warehouses in the boutique gated development at 13 Mogul Court, Deer Park, were snapped up by tradespeople, small businesses, and investors for a total of $4.75 million.
“It proved to be an outstanding project, located in the very sought-after Deer Park industrial precinct,” Mr Kelepouris said.
“In order to run such a successful campaign, the project should have a point of difference. In this case, the cutting edge style, modern facade and functional elements designed by Robert Pelicano Architects was the point of difference.
“The purchasers are all very proud to be part of this new and buzzing industrial estate.”
The total building areas across the 13 units ranged from 94sqm* – 165sqm* including the majority of units having mezzanine storage with potential to upgrade to a modern enclosed office space.
“The properties come with high-end commercial finishes including kitchenettes, LED lighting, motorised roller doors, showers plus all of the units having dedicated parking on title,” Mr Kelepouris said.
“Melbourne’s industrial land values are growing at the highest rate nationally; this estate sold at rates between $2,950 – $3,360 per square metre, which is new territory for industrial stock in Deer Park.”
