Colliers International makes 29 off-the-plan strata warehouse sales in the past 12 months, with six in the past three weeks.
A surge in demand from local owner-occupiers and investors has fuelled strong sales results at a landmark new strata office-warehouse development in Knoxfield, leading to the early release of the project’s next stage.
Only one unit remains in the first stage and 70% of Stage 2A has already been sold at Industria Knoxfield, spurring the developer to release the project’s next stage ahead of schedule.
Colliers International selling agents Andrew Chrapot and Jonathan Mercuri, in conjunction with Crabtrees Real Estate’s Chris McKenzie, Luke Pitcher and Rohan Bail, are marketing the project.
They have sold 29 units off-the-plan in the past 12 months, with six sales in the past three weeks, setting above-market rates.
Located at 1464 Ferntree Gully Road, Industria Knoxfield, developed by Wilmac Properties and Folkestone, will deliver a total of 88 office warehouse units, as well as a premium onsite café, when completed.
Stage 1 construction is well underway and due for completion in Q1 2017, encouraging more owner-occupiers to make active enquiries. The developer has also secured a renowned café operator from Melbourne’s east, the owner of Poacher & Hound in Mount Waverley.
“We’re envisioning the end result to be a bustling business centre,” Mr Chrapot said.
He said the units, which ranged in size from 97sqm to 312sqm, were attracting keen interest and strong sale prices.
“Units are attracting full asking prices, ranging from $251,000 to $775,000, amid strong demand from local private investors, owner-occupiers and self-managed super fund buyers,” he said. “We’ve had to launch more units due to unprecedented sales.
The affordable pricing and the prime location, just minutes from EastLink, Monash Freeway and Burwood Highway, have proven enticing factors to buyers.
“A development of this kind and scale is unprecedented in the Knoxfield area, and as such, is attracting keen interest,” Mr Mercuri said. “No other strata warehouse development of this magnitude has been built in this precinct in quite some time."
Industria Knoxfield offers flexible commercial and industrial spaces, designed to meet the changing needs of modern businesses and appeal to a broad range of end users.
The new development will feature architecturally designed office/warehouses situated in the heart of Melbourne’s core eastern industrial market.