Epping industrial land sells for a record rate

Amber Homes have signed a $5,012,800 deal for industrial land in the heart of Victoria’s industrial precinct, amid rising land prices.

Located at 8 Northpoint Drive, Epping, the 6,266sqm site, was sold via an Expressions of Interest campaign that closed on 3 November 2021 at 3pm AEDT, setting a record land sale rate for a site this size. 

CBRE’s Daniel EramoJoe Brzezek and Jake George managed the highly competitive sales campaign which resulted in multiple bids from the development sector. 

“With land supply diminishing in Melbourne’s North middle belt, industrial site prices have increased by up to 35% in the past 12 months and this latest transaction has set a new record land sale rate,” Mr Eramo said

The landholding is zoned Comprehensive Development Zone – Schedule 2 in Whittlesea City Council, which allows for a variety of uses, subject to the relevant planning approvals.

Amber Homes was drawn to the site because it was serviced, titled and ready for development,” Mr Eramo said.

The site has 48m frontage to Northpoint Drive and is situated close to major arterial roads, Pacific Epping Shopping Centre and the Northern Hospital.

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About Warwick Petschack

Warwick has over 25 years of property investment and management experience. Principally responsible as Managing Director for Capital Management Australia and Joint Managing Director for Chauvel Capital Partners and Editor of Australian Property Markets News.

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