Deal done on tightly-held Geelong Road

February 10, 2011 | Industrial | Commercial

An industrial strata unit on Geelong Road in West Footscray has sold for $1.35 million to Binks Ford, following strong interest and a large turnout at auction.

The property was sold with vacant possession by Colliers International’s Nick Saunders and Nathan Bingham in conjunction with Knight Frank, on behalf of Mount Jemi Pty Ltd.

Mr Saunders said location and value for money were the most key features of the 1,000sq m showroom/ warehouse facility on 1,250sq m land area.

“The property boasts a broad frontage to a busy Geelong Road, which is a very tightly held strip, with limited opportunities, allowing for excellent signage opportunities and significant exposure to all passing traffic,” he said.

“Located just 5 kilometres west of Melbourne’s CBD, the property offered the option to either invest or to occupy.

“As a result, we had a large turnout initially at auction and were able to secure a strong result post-auction,” he said.

The West Footscray market has evolved significantly over the past decade, transforming from a traditional industrial area, with large to medium sheds with hardstand areas for containers, to high density housing and high tech commercial hubs.

“Many of the larger warehousing and manufacturing industries have relocated to the outer western suburbs making way for more businesses needing to be located closer to Melbourne’s CBD,” Mr Saunders said.

For further information please contact:
Phoebe Miller, PR & Communications Manager
T:  +61 3 9612 8815 | M: +61 402 547 484
E:  phoebe.miller@colliers.com

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