A high profile office-warehouse in one of Melbourne’s up-and-coming precincts, Fishermans Bend, is expected to attract interest around the $6 million mark.
Colliers International’s Jeremy Gruzewski and Damien Stone have been appointed to sell the 3,275sqm, two-level building at 9 Westside Avenue in Port Melbourne.
The property is currently tenanted to Rentokil Initial, which has a four-year lease in place until November 2018, with two further options of two years.
Mr Gruzewski said the property represented a strong investment opportunity in Melbourne’s last and best inner city industrial area.
“With the high level of inner city redevelopment, the Fishermans Bend precinct of Port Melbourne is considered Melbourne’s best inner city High Tech Industrial area,” he said.
“Port Melbourne is currently undergoing a transformation, having had part of the Fishermans Bend precinct recently rezoned as part of the government’s Urban Renewal Project.
“The reduction in land zoned for commercial and industrial use is expected to help drive rental growth and land values for years to come."The 3,658sqm site incorporates 44 car parks and a clear span warehouse with dual roller door access.
The property is located on the western side of Westside Avenue in a high profile location accessed via Lorimer Street, approximately 3.5km south-west of the CBD.
The property is for sale by Expressions of Interest closing Wednesday July 8 at 2pm.
