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Land prices for industrial sites in Melbourne’s west have risen by more than 20% across the past eight months, as more owner occupiers look to put down roots. “Demand for quality industrial land and buildings within infill locations in western Melbourne is soaring to unseen levels,” said CBRE Ricardo Cappelletti.
An investor has swooped on a newly-renovated and tenanted Penrith industrial sold for $4.7 million at auction. CBRE Brendan Wein, Matthew Alessi and John Micallef managed the sale campaign on behalf of Rise Projects, in conjunction with Jay Morosi and Robert Tappouras of PRD Commercial.
Stonebridge Property Group has transacted a warehouse and office building at 17 Cato Street Hawthorn East sold for $4.2 million in an off-market transaction.The sale was completed by Stonebridge specialised city fringe investment team of Dylan Kilner and Max Warren.
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