$21 Million Industrial Property Sold in Melbourne’s West

Colliers facilitates major sale highlighting Melbourne’s industrial market strength.

Colliers Industrial & Logistics experts Stephen Ryan, Charlie Woodley, and Hugh Gilbert are pleased to announce the successful sale of a prime industrial property located at 4-6 Cambridge Street, Laverton North, for $21,000,000. Nutrien outgrew the planned facility and sold the vacant land, which comes with an approved permit for development to a construction industry occupier for expansion.

The site, a 2.254ha landholding, comes with an approved planning permit for a 10,423sqm office and warehouse development. Situated approximately 15km west of Melbourne’s CBD, the block offers significant flexibility for future development, making it an attractive option for both developers and owner-occupiers.

Stephen Ryan, Colliers Associate Director | Industrial & Logistics, said, “The property, a well-located site in the heart of Laverton North, attracted significant interest from both occupiers and developers seeking high-quality development opportunities. The successful sale highlights the strength of the current market, with this particular transaction demonstrating the ongoing confidence in Melbourne’s industrial property sector.”

Charlie Woodley, Colliers Associate Director | Industrial & Logistics, added, “This sale is a testament to the area’s appeal, particularly due to the Industrial 2 Zoning, which is scarce across both metropolitan Melbourne and regional Victoria. Due to the limited supply of Industrial 2 zoned land, it will continue to be highly sought after by occupiers who have a genuine need for this type of zoning, with results reflecting the current demand.”

Laverton North, a significantly land-constrained area, offers the potential to redevelop the site into a last-mile logistics estate or specialised owner-occupier facilities. The vendor has obtained development approval from Wyndham Council, EPA, and Work Safe, ensuring the site is ready for immediate building works (STCA).

Melbourne West remains Australia’s largest and fastest-growing industrial market, home to some of the biggest brands and institutional investors. Despite a slowdown in leasing volumes in 2023, the market continues to demonstrate robust activity, driven by rapid development in the region.