Colliers International releases fourth and final stage of office/warehouses at Industria Knoxfield
Blue-collar professionals are gravitating to Melbourne’s outer-east, with more than 30 businesses already securing space at the Industria Knoxfield strata office/warehouse development at 1470 Ferntree Gully Road.
Local plumbers and builders, such as Southern Cross Plumbing and Contracting and Howes Construction, are among the trades and services to join an array of other owner-occupiers, including Subway, Jim’s Mowing, MarShere Dance Studios and Bohemio Furniture, in the new commercial estate.
Demand has far exceeded expectations, with stages one and two already sold out; stage three more than 70 per cent sold; and stage four released to the market well ahead of schedule. The overall development is on track for completion in late 2018, about 18 months ahead of schedule.
Colliers International’s Andrew Chrapot and Jonathan Mercuri are marketing the project in conjunction with Crabtrees Real Estate’s Chris McKenzie, Luke Pitcher and Megan Miles.
Mr Chrapot said the remaining units were attracting keen interest now that stage one had been completed, allowing prospective buyers to experience the development and visit the recently opened café.
“Units from 85sqm to 312sqm have achieved full asking prices, ranging from $249,000 to $775,000 respectively, amid strong demand from local private investors, owner-occupiers and self-managed super fund buyers,” he said.
Mr Mercuri said the affordable pricing and prime location, just minutes from EastLink, the Monash Freeway and Burwood Highway, had proven key selling points for buyers.
“A development of this kind and scale is unprecedented in the Knoxfield area and as such, has witnessed strong enquiry and subsequent commitment,” he said.
Industria Knoxfield, which is being developed by Wilmac Properties and Folkestone, will deliver a total of 88 office/warehouse units when completed.
“The flexible commercial and industrial spaces have been architecturally designed to meet the changing needs of modern businesses and appeal to a broad range of end users,” Mr Mercuri said.
“This brief has certainly been met based on the uptake we’ve witnessed in recent weeks and months.”
Stage one is open for business and the on-site café, Half Half, by the operators of Mount Waverley’s popular Poacher & Hound café, opened in late August. Stage two is set to be complete in less than two months, with construction of stages three and four brought forward to start this month.