JLL industrial has sold $52.2 million of land at a major industrial estate in Epping in less than 12 months.
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Nov 14, 2022
JLL industrial has sold $52.2 million of land at a major industrial estate in Epping in less than 12 months.
JLL Industrial Director Mr Anthony Cannizzaro said 32 lots had been sold at 18 Dilop Drive – known as Dilop@Epping – reflecting the demand for industrial land in Melbourne. JLL Industrial’s Arthur Vainbrant said, JLL have been working closely with vendor Citinova as the developer prepared the concept design and subdivision planning.
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18 Dilop Drive – known as Dilop@Epping -
18 Dilop Drive – known as Dilop@Epping -
18 Dilop Drive – known as Dilop@Epping
JLL industrial has sold $52.2 million of land at a major industrial estate in Epping in less than 12 months.
JLL Industrial Director Mr Anthony Cannizzaro said 32 lots had been sold at 18 Dilop Drive – known as Dilop@Epping – reflecting the demand for industrial land in Melbourne.
JLL have been working closely with vendor Citinova as the developer prepared the concept design and subdivision planning.
“We are very excited to deliver a high quality industrial subdivision within one of the last infill parcels in Epping. We set out to create a product mix that meets the local demand and needs of operators and the results are a true testament to this.” Nathan Minicozzi - Director of Citinova .
Mr Cannizzaro said the majority of buyers were major developers and owner occupiers.
He said there very little land available across Melbourne and that had been reflect in falling yields and rents in the North rising from $100 sqm to $140 sqm in the past 12 months and capital values on warehouse sales averaging around $3500.
“The industrial property market is going through an unprecedented boom as market demand for warehousing skyrockets following the supply issues created by the COVID pandemic,” Mr Cannizzaro said.
JLL Industrial Arthur Vainbrant said Dilop@Epping is close to the new Melbourne markets 21km North of Melbourne’s CBD, 27km from the Port of Melbourne, and just 20 minutes from Melbourne’s International Airport.
The final 9 lots, ranging in size from 1199-2600 sqm are being released in early November.
The estate offers a total of 61,000 sqm and is currently being serviced for delivery in late 2023.
To request a sales analysis please contact the selling agents JLL Industrial Director Mr Anthony Cannizzaro and JLL Industrial’s Mr Arthur Vainbrant via the below contact details.
Related Reading:
Port Botany Industrial Investment property for sale by JLL South Sydney | The Industrialist
Melbourne warehouse in prime infill location sold for $500k over reserve by JLL | The Industrialist
Important Information:
Contact details:
Arthur Vainbrant
Savills
+61 421 648 048
Anthony Cannizzaro
Savills
+61 404 783 888
