Melbourne, 15 April 2014 – A major industrial property situated within the recently rezoned Port Melbourne precinct, currently undergoing urban renewal, has been listed for sale.
The 7,456sqm property, located at 320 Plummer Street, benefits from a high profile position in the heart of the state government’s Fishermans Bend Urban Renewal Area Plan.
CBRE’s Harry Kalaitzis, who is marketing the property in conjunction with fellow agent Dean Hunt, said the property held scope for redevelopment with a diverse range of outcomes.
“Under the government’s urban renewal plan, this area of the city will undergo dramatic transformation, and this property holds significant potential to become a focal point of this flagship project,” Mr Kalaitzis said.
The property offers highly sought after existing improvements, including a high clearance warehouse totalling 3,110sqm and adjoining hardstand, which is in excess of 4,000sqm in area, with the ability to be occupied immediately.
The property also benefits from excellent exposure and access offered by its three street frontages.
Mr Hunt said the site benefited from surrounding infrastructure and amenities, including major thoroughfares, sports grounds, recreational parks and local services.
“Port Melbourne is fast becoming one of the city’s most desirable locations, and we expect this property will attract significant buyer interest from both developers and occupiers wanting to take advantage of the site’s proximity to major road networks, whilst capitalising on long term growth prospects.”
The property is being offered via Expressions of Interest closing May 21 at 3.00PM.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.