Monash Precinct Expects Strong Sale As Demand Continues For Industrial Property

A warehouse building in the Melbourne's outer-east is expected to sell for more than $9 million when it comes to market next week. 

The 1.78-hectare landholding at 80-84 Peters Avenue, Mulgrave, encompasses a high-clearance warehouse, office, showroom and ample on-site parking.

Colliers International have been appointed to sell the property on behalf of GNS Wholesale Stationers.

Colliers International’s Justin Fried said the asset was likely to suit owner-occupiers in the distribution and storage sectors, due it’s location and functional building improvements.

“The property boasts about 8,555 square metres of building area, including a showroom/reception area fronting Peters Avenue with various office accommodation built into the warehouse for retail and administration purposes,” he said.

The stand-alone facility has dual access points from Peters Avenue and Miles Street, three crossovers and drive-through access. There is significant on-site power available and a functional all-weather canopy.

“The internal clearance heights range from 8.2 to 9.1 metres, offering a higher cubic capacity than comparable facilities with the immediate area,” Fried said.

“The high clearance would actually allow five to seven-level racking systems.”

Colliers International’s Jonathan Mercuri said Monash was “arguably Melbourne’s most tightly held industrial precinct”.

“Peters Avenue is surrounded by significant residential catchments, which offer access to a strong blue and white collar workforce,” he said.

“Between Dandenong, Springvale and Wellington roads, with easy access to the Monash Freeway, the property is in an excellent position just 20.5 kilometres south east of the CBD.