The renowned industrial property at 592-600 South Road, Moorabbin, is officially up for sale, marking its first change of ownership in over 40 years. The site presents a rare opportunity for owner-occupiers and developers to secure a prime asset in one of Melbourne's most sought-after industrial markets.
Located 17 km south-east of Melbourne's CBD, the property boasts an expansive 11,057 sqm facility on a 20,026 sqm plot zoned for Industrial 1 use. The site’s strategic location near major transport routes, including the Nepean and Princes Highways, provides excellent logistics and last-mile delivery capabilities, making it an attractive prospect for a range of industrial and commercial uses.
Expressions of Interest are being managed by Cushman & Wakefield's Brokerage Logistics & Industrial team, with Gareth Jackson and Kosta Filinis leading the campaign.
"This is a once-in-a-generation sale," said Mr. Jackson.
"With industrial land in Melbourne’s south-east tightly held and vacancy rates at record lows, opportunities to acquire assets of this scale are incredibly rare. The property’s versatility, coupled with its prime location, makes it suitable for various future developments, including large-format retail, strata industrial estates, or self-storage facilities, subject to council approval."
Mr. Filinis highlighted the area's strong demographic appeal and growth prospects, particularly with increasing demand for industrial space driven by e-commerce and population growth.
"The property is ideally positioned to benefit from ongoing rental growth and high demand in the south-east industrial market," he said. "Its proximity to local amenities like the Morris Moor Commercial Precinct, Westfield Southland, and nearby retail hubs enhances its appeal."
The sale presents a unique chance to invest in a site that has remained a cornerstone of Melbourne’s industrial landscape for decades. Its flexibility makes it suitable for owner-occupiers looking to expand or developers aiming to capitalise on the area’s ongoing transformation.
Interested parties are invited to submit Expressions of Interest by Thursday, November 28, 2024 at 4pm (AEDT).
