Colliers present two adjoining land-rich industrial  assets for sale, strategically located within one of Melbourne’s sought after and tighly held Braeside  industrial precinct. The assets at 9 and 10 Haymer Court, Braeside are underpinned by a high underlying land value and a secure combined passing income of $361,296 per annum across two tenancies. 

The two industrial warehouses have a combined building area of 3,513 sqm with a low site coverage  of 41%, offering ultimate future development flexibility. The assets sit on a combined land holding of  8,496 sqm, providing a multitude of redevelopment and repositioning opportunities (STCA). 

Colliers agents Luke Lowden, Sam Hibbins, Daniel Telling, and Nicholas Simon are managing the  expression of interest campaign. 

Colliers Industrial Associate Director Luke Lowden said, “The South-East is a highly land-constrained  market, with consistent rental/capital growth prospects and will further benefit from the rapid  growth of e-commerce and last-mile logistics. Perfectly positioned for final mile distribution with  excellent access to existing precinct amenity and major road infrastructure including the Mordialloc  Freeway, Dandenong Bypass, and EastLink, with limited future supply and surrounding residential  catchment areas.” 

Mr Lowden added, “The Melbourne South East industrial and logistics market has been one of the  most active markets in Melbourne since 2021, driven by strong occupier and institutional demand.” 

Sam Hibbins, Colliers Industrial Associate Director, commented, “Braeside is one of the most sought after Bayside industrial locations with a mix of small to medium private occupiers plus large  corporate businesses. Infill sites like these offer development flexibility to both local occupiers who  will utilise the assets for their own business in the future and investors who will access the rental  and development upside.” 

The Melbourne South East industrial and logistics market has continued to show its strength throughout the past two years, particularly regarding occupier demand. Major drivers for industrial  and logistics tenancy demand include continued infrastructure investment from a government level  and manufacturing increasingly coming back to Australian shores.

Total stock in the Melbourne South East submarket reached 7.3 million sqm as of Q2 2024,  constituting 26.5% of the total Melbourne industrial market. Vacancy rates fell to record lows of 0.1%  in March 2023, but have now slightly eased to 1.0%, primarily due to the backfill of secondary  facilities. 

“Despite the rising vacancy, quality leasing options remain limited, with only two prime buildings  currently vacant. Furthermore, the current market vacancy is still well below the long-term average,  and the South East submarket has the lowest vacancy across Melbourne as of Q2 2024, supporting  stable rental growth,” Mr Hibbins added.  

9 and 10 Haymer Court, Braeside are offered for sale via Expressions of Interest closing Wednesday,  9th October at 4 pm (AEST). 

More Colliers readings 

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