JLL Industrial has sold a very rare industrial standalone warehouse in the heart of Melbourne’s prime industrial location for $2.38 million.

The auction at 16 Webber Parade, Keilor East was attended by over 15 groups, with a total of 4 groups bidding for the property which resulted in final price being $500,000 above the reserve. 

The 744 sqm building on a 992 sqm site was purchased by a local investor.

JLL’s Director – Industrial (Victoria), Anthony Cannizzaro said, “The asset is positioned in one of the most highly sought-after industrial pockets with excellent access to the ports, Melbourne CBD and the Melbourne Airport.

“There is a severe shortage of existing assets around 1000 sqm in Melbourne’s core industrial precincts and strong owner occupier and local investor demand, this was reflected in the record price of $3200 per sqm,” Mr Cannizzaro said.

For more information contact the agent JLL’s Director – Industrial (Victoria), Anthony Cannizzaro via the contact form below.

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