A prominent 26.4ha industrial site in Melbourne’s West has changed hands for the first time in more than 35 years following extensive interest from seven different potential buyers.
Colliers International’s Nick Saunders, Stephen Newsham and Milton Tsaktsiras sold the site, located at 171 Leakes Road and 100 Palmers Road in Truganina, for $8million on behalf of private landowners who had owned the property for more than 35 years.
Mr Newsham said the site, which featured significant main road frontages, was located amidst rapidly developing industrial and residential precincts in the region, which made it highly sought after.
“The experience of our team in englobo transactions, our knowledge of the relevant marketplace and strong relationships with many developers and investors looking to acquire strategically located land parcel opportunities in Melbourne’s west resulted in a very successful sale for the owners,” Mr Newsham said.
“We received a total of seven offers at the close of the Expressions of Interest campaign, resulting in a successful unconditional offer at a price well above our clients’ expectations.”