“Reflecting an industrial land sale rate of $474.50 per square metre, the sale campaign for 15 Dalton Road demonstrates the demand for quality land sites within Melbourne’s north amid a current supply shortfall,” Mr De Sanctis said.
“We were able to achieve a premium price for the property as the approved plans and permits removed the risk of obtaining a DA and potential holding costs for the incoming purchaser.”
The sale campaign attracted more than 100 enquiries, with the successful purchaser being a large-scale developer specialising in commercial/industrial development within Melbourne.
Mr De Sanctis said Melbourne’s northern sub-market of Thomastown continued to attract strong tenant and owner occupier demand.
“Thomastown has become a thriving, tightly held pocket with an excellent mix of large format retail, smaller industrial units and larger industrial occupiers. It is located on the border of the Metropolitan Ring Road and provides excellent access to public transport and major road networks.”
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