Melbourne land sale achieves $28.5m

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In the second of two major off-market Melbourne land sales within the past 12 months, Salinger DC&W completed the sale of an 11.87ha site to purchaser Mainfreight on behalf of a private owner. The site sold for circa $28.5million.

Mainfreight has been at the forefront of owner occupier development across Australia and New Zealand. The company is set to develop a new 50,000sqm warehouse and distribution centre on the site, with residual land to be developed by the vendor.

151, Glasscocks Road is a greenfield site in the well-established industrial suburb of Dandenong South. Situated 31km South East of Melbourne’s CBD, the area is well connected with Melbourne’s freeway network.

Michael Hayden, Director at Salinger DC&W said, “Mainfreight were looking for a suitable site to consolidate various buildings in Melbourne’s South East. This site provides that opportunity along with space to accommodate anticipated expansion whilst realising greater efficiency.

We believe this transaction to be the largest land purchase by an occupier in the last few years. It comes against a backdrop of strong demand and very low supply.”