JLL’s Logistics and Industrial team in Victoria has sold an industrial facility in Werribee to a local owner-occupier for $12 million in one of the most significant transactions in the area in 2024.

JLL’s Robert DiNatale, Ilia Karageorgiou and James Jorgensen negotiated the sale of 86-100 Lock Avenue on behalf of a local private investor as a long term holding.

JLL Logistics and Industrial Director - Victoria, Mr DiNatale said the 1.7-hectare lot had been used most recently as a depot for an earthworks business. 

The 17,480 sqm site abuts the Princes Freeway in Werribee and offers 2383 sqm of buildings and 13,651 sqm of hardstand with a short-term WALE of 6 months.

Mr DiNatale said the site offered the flexibility to occupy, expand or develop (STCA) within the tightly held precinct of Werribee, approximately 28 km West of Melbourne’s CBD.

“This site presents the incoming party with the options to either occupy, develop, or invest in an ever-tightening industrial market,” he said.

He said JLL is seeing increasing demand for the precinct from owner occupiers due to increasing shortage of land supply in traditional industrial markets.

The nearest established markets are Truganina and Derrimut.

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