The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
20 DAYS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 500 ALREADY ATTENDING
20 DAYS UNTIL OUR FLAGSHIP CONFERENCE 500+ ALREADY ATTENDING
SECURE YOUR SPOTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OfficeStaff WriterThu 16 Jun 16

Keysborough Site Bought For Potential Industrial Estate

k

A Melbourne-based developer has paid a speculated $6 million for a 60,000 square metre englobo parcel of land close to EastLink at Keysborough which could potentially accommodate a $100 million industrial estate.

The 275 Perry Road site is situated approximately two kilometres from EastLink and 2.8 kilometres from the Dandenong Bypass, considerably reducing travel times to most parts of Melbourne.

Savills Director Kosta Filinis said the sale was driven by the success of nearby established estates including Frasers Property’s The Key Industrial Park (600 metres north) and Places Victoria’s Dandenong Logis, which have achieved record square metre rates for land sales based on their close proximity to EastLink.

"What we have seen in this region over the last three years is a rapid take up of available industrial land from 55 hectares to 65 hectares per annum including 28 hectares of development sites sold in this Keysborough precinct over the last 12 months," he said.

"That activity has intensified demand for remaining sites especially those within close proximity of EastLink and that was the driver for the vendor offering what was one of the last remaining englobo parcels in the Keybsorough region,’’ Mr Filinis said.

"There is an increasing urgency for well-placed development sites based on a growing confidence in the market and prices are starting to reflect that difference.

"Land close to EastLink is highly sought after with asking rates of as much as $320 a square metre for 1200 square metre lots and that is driven by both the competition for sites and the fact that developers can achieve rents of up to $110 a square metre for brand new office warehouses,’’ Mr Filinis said.

The agents declined to comment on the price.

The vendor was a local private land owner.

IndustrialAustraliaReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
View All >
Hotel

Perth Hotel New Role Revealed After $105m Sale

Lindsay Saunders
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
Kangaroo Point Aria Canopy House Revised DA Approval hero
Development

Aria’s Revised Tower Greenlit for Inner-City Kangaroo Point

Phil Bartsch
The latest approved scaled-back plans are for a 31-storey tower comprising 172 apartments…
LATEST
Hotel

Perth Hotel New Role Revealed After $105m Sale

Lindsay Saunders
2 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Kangaroo Point Aria Canopy House Revised DA Approval hero
Development

Aria’s Revised Tower Greenlit for Inner-City Kangaroo Point

Phil Bartsch
3 Min
Warren and Mahoney's rendering of Leftfield's project at 691-693 Burke Road, in Melbourne's Camberwell.
Residential

Leftfield Lifts Cover on 14-Storey Scheme at Camberwell

Marisa Wikramanayake
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/keysborough-development-site