Rowville office warehouse fetches $13 million through Savills
An industrial office/warehouse in Rowville has sold for $13 million for the first time in 20 years to a local owner-occupier, highlighting the tightly held nature of Melbourne’s south-eastern industrial precinct.
Savills Australia’s Kosta Filinis and Lynton Williams brokered the off-market deal for 800 Wellington Road at a land and building rate of $1,600 per sqm.
“The sale demonstrates the current strength and depth for established, large-scale facilities in this tightly held, fully developed industrial precinct of Melbourne,” Mr Filinis said.
Mr Filinis went on to say that due to the proximity to Eastlink, assets in the Rowville precinct were in strong demand from both owner-occupiers and investors.
“The precinct is highly regarded and with very limited supply, industrial values are on a strong upward trajectory.”
The 20,940sqm site enjoys a main-road position and encompasses an 8,140sqm building, including 774sqm of office space and multiple loading docks.
The building also has a canopy and a 9.5-metre internal height clearance with early suppression, fast response (ESFR) sprinklers.
The vendor was represented by Charter Keck Cramer.
