The highly competitive campaign highlighted the continued strong demand for industrial development opportunities within Melbourne's south-east.

Colliers announce the successful sale of a rare industrial infill site located at 91 Remington Drive, Dandenong South. The transaction, managed by Colliers agents Luke Lowden, Sam Hibbins and Gordon Code, generated a large number of enquiries from prospective buyers.

Colliers Industrial Associate Director, Sam Hibbins, said, "We received over 100 enquiries from developers, self-storage businesses and owner-occupiers, highlighted the continued strong demand for industrial development opportunities within Melbourne's south-east."

The 11,526sqm industrial 1 zoned site was purchased by a prominent private developer for $10million.

"The buyer intends to utilise the existing improvements of 215 storage units whilst also developing a new and improved self-storage facility," Luke Lowden, Associate Director Colliers Industrial stated.

"The fundamentals of a sought-after location and consistently strong industrial rental growth over the past three years played a factor in the interest for this site," added Colliers Industrial National Director Gordon Code.

"Along with Melbourne's West, the south-east industrial market continues to lead the way when it comes to leasing activity, with 83% of the leased during the second quarter of 2024, located within these two markets. The south-east is experiencing the lowest vacancy in Melbourne's industrial market, with vacancies witting at sub-1%." Dandenong South is primely positioned within the south-east industrial sub-market with a range of premier business parks, including M1 & Innovation Park (Pellicano), Nexus Estate (Salta) and Rubix Connect (Frasers) surrounding the area.

Growing residential catchments including Hampton Park, Lynbrook, Dandenong, Cranbourne and Sandhurst are also a driving force behind the thriving Dandenong South industrial market.