IndustrialLindsay SaundersSun 03 May 26
Three Decades on, Truganina Site Changes Hands for $180m
Stamford Capital and Citius have put their foot on a west Melbourne development site, paying $180 million for the former hobby farm.
The 58.8ha site at 725 Boundary Road, Truganina had been held for more than 30 years by the Ruzeu family.
The site is bisected by a train line so portions of it cannot be developed; however, 35.8ha is zoned for industrial use and 5.5ha for residential.
The parcel has about 800m of frontage to Boundary and Woods roads. A train station is slated for about 150m from the site.
A substantial and staged redevelopment with logistics and data centres as well as a residential component is expected to be proposed for the site about 25km from Melbourne’s CBD.
Stamford Capital is Australia’s largest independent commercial property finance brokerage firm, while Citius is an Australian-based property development, project management, and strategic consultancy firm.
The sale is among the largest recorded in the capital’s west in recent years and reflects continued competition for sites capable of supporting large pipeline projects amid constrained supply.
The deal was handled by Collier’s Hugh Gilbert and Nick Saunders.
Meanwhile, a Dandenong South industrial warehouse has changed hands for $28 million, as investor demand for stabilised logistics assets stays hot.
The asset at 41–51 Monash Drive spans 2.87ha and includes a 15,830sq m facility with hardstand and functional access suited to distribution and manufacturing uses.
It is leased to an ASX-listed tenant on a long-term agreement extending to 2032, providing secure income that underpinned buyer competition.
The deal reflects a yield of 5.71 per cent on an annual net income of about $1.6 million, signalling continued firmness in industrial pricing despite broader market volatility.
The asset last traded in 2011 for $11.66 million.
Dandenong South remains one of the city’s premier logistics precincts, benefiting from major arterials including EastLink, the Monash Freeway and the Port of Melbourne.
