Major cold store facility up for grabs in key Melbourne industrial market

Colliers International lists 3.025-hectare industrial asset in Clayton

A premium cold store facility in a tightly held industrial precinct in Melbourne’s east is expected to garner more than $20million.

Charter Keck Cramer has appointed Colliers International’s Justin Fried and Jonathan Mercuri to sell 1513-1533 Centre Road, Clayton, on behalf of Swire Cold Storage via an expressions-of-interest campaign closing in March.

The substantial landholding covers about 3.025 hectares, with existing building improvements comprising a well-maintained cold storage facility of more than 15,744sqm. The premises offers high-clearance freezer and cool-room distribution space, plus a fully automated high-bay area with an extensive automated racking system, which is included with the sale.

“The facility has been occupied by Swire Cold Storage for more than 12 years and is now surplus to its requirements, having been impeccably maintained during this time,” Mr Fried said.

“It is being offered with vacant possession and boasts 18 insulated loading docks, as well as on-grade access, outstanding staging areas and significant concrete handstand ideal for truck access.”

Mr Mercuri said the property was likely to appeal to large-scale food-grade occupiers looking for highly functional space in this “very desirable, central eastern industrial locality”.

“Major food users in Melbourne's east have featured heavily in the sales arena in recent times,” he said.

“Cold Xpress purchased 830 Wellington Road, Rowville, through Colliers International for more than $9million, while PFD secured a five-hectare landholding at Kingston Business Park, Knoxfield, where Vaughan Constructions is underway with the construction of its new Victorian headquarters.

“1513 Centre Road offers the opportunity for a large-scale food-related user to secure an existing fit-for-purpose facility well below replacement cost.”

Mr Fried said recent major sales activity in the area, including the sale of 31-49 Browns Road, Clayton, for $51.5million, supported the long-term views that investors were adopting in the area.

“Large-scale sites in this location are rarely offered to the market,” he said.

“Purchasers are certainly thinking in the long term regarding the already strong land values and the scope of higher, better use that sites of this scale can offer in the future.”

Colliers International commercial real estate industrial corporate property Clayton Charter Keck Cramer Swire Cold Storage

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