Located in Melbourne’s inner northern suburb of Preston, this property is a rare find with 8,225sqm of space up for lease.

Currently occupied by Bunnings, which is soon relocating to a larger nearby premises, this property is being offered to the market on a sublease basis. 

Situated on a 33,118sqm corner site at 120 Chifley Drive and strategically located within inner Melbourne and adjacent to Northland, the property features a high clearance, functional 8,225sqm warehouse and over 3,000sqm of outdoor canopy.

It will be marketed for lease by Knight Frank agents Thomas Dodd, Joel Davy and Nathan Edgar.

Mr Dodd said it was a flexible warehouse offering four points of entry to the property over three street frontages, including substantial exposure to both Chifley Drive and Murray Road.

“This provides excellent exposure for an incoming tenant looking to be located in inner Melbourne,” he said.

“Preston is vibrant and diverse with its mixed use offering of restaurants, cafes and shops.

The strength of the area is evidenced through the amenity offering including Northland Shopping Centre, Northland Homemaker Centre and Northland Home Consortium being in close proximity to the site, drawing a high volume of traffic to the area.

“In recent years, there has been significant redevelopment in Preston and surrounds resulting in the construction of residential apartment buildings and dwellings creating a dense local population. The property’s easy access to these densely populated residential catchments makes it a compelling proposition to a wide range of users such as ecommerce operators, 3PLs, last mile logistics and large format retailers.”

The property at 120 Chifley Drive in Preston is located 9 kilometres north of Melbourne’s CBD, 12 kilometres from the Port of Melbourne and 16 kilometres from Melbourne Airport.

Mr Dodd said the northern industrial market has seen extremely low vacancy levels, especially in the inner northern suburbs. 

“As upcoming developments progress further north, the inner northern locations become extremely popular and in higher demand mainly due to their proximity to the city, Port of Melbourne and thriving mixed-use precincts.” he said.