75% of first release sold in just three months as the next stage of a unique strata office warehouse development is launched
A significant number of sales have been achieved at a landmark new strata office-warehouse development in the heart of Knoxfield.
Located at 1464 Ferntree Gully Road, Industria Knoxfield, developed by Wilmac Properties and Folkestone, will deliver 88 office warehouse units, as well as a premium on-site café.
Colliers International’s Andrew Chrapot and Jonathan Mercuri, in conjunction with Chris MacKenzie, Luke Pitcher and Megan Miles from Crabtrees Real Estate, have sold 75% of Stage 1 since its launch just three months ago. As a result of the strong sales, the developers have fast tracked the second release to satisfy demand.
Mr Chrapot said the units, which range in size from 106-313 sqm, had been snapped up predominantly by SMSF and private investors, along with a number of owner-occupiers looking to secure a property in this tightly held commercial and retail precinct.
“We have received significant enquiry from private investors, self-managed super fund buyers and owner occupiers, attracted to the affordable pricing and the location, only minutes to Eastlink, Monash Freeway and Burwood Highway” he said.
Mr Mercuri said the development was unprecedented in the Knoxfield area and as such was attracting keen interest from purchasers.
“In terms of its scale, this project is unprecedented in this industrial market,” he said. “No other strata warehouse development of its kind has been built in the Knoxfield area in quite some time.
“Add to this the high profile location at the epicentre of the sought after Knoxfield industrial precinct, and the variety of sizes on offer, we are fielding strong demand from private investors and owner operators alike."
Industria offers a range of spaces, from small ‘man caves’ to larger office-warehouses and showrooms. The brand new development will feature 88 architecturally-designed office/warehouses and an onsite café, providing a mix of flexible business, trade and storage spaces. All premises will include car parks on title.
The prominent new commercial hub is situated between Eastlink and Burwood Highway, anchoring its position as a central location servicing the inner east and south east suburbs. Construction is due to commence in the coming months.