More than 6.6 hectares of industrial land in the Ballarat West Employment Zone (BWEZ), strategically situated next to the Ballarat Airport, has sold across four recent deals totalling more than $9 million.
The sales include:
· 20 Discovery Road, Mitchell Park – a 24,970sq m lot
· 5 Discovery Road, Mitchell Park – 9,000sq m lot
· 25 Assembly Avenue, Mitchell Park – 22,600sq m
· 30 Assembly Avenue, Mitchell Park – 10,000sq m lot
Purchasers included businesses in the steel manufacturing, engineering, civil and aviation industries.
The sales of the lots, which were all in Stage 2 of BWEZ, were negotiated by Nathan Edgar and Chris Bolsin of Knight Frank on behalf of Development Victoria.
It follows the sales success of other stages of BWEZ, with Stage 1 and 1B having sold out.
BWEZ is being funded and delivered by Development Victoria, with Regional Development Victoria playing an investment attraction role.
BWEZ was announced in 2015 as a $30 million joint initiative between the Victorian Government and the City of Ballarat to support the region’s economic growth over 20 years, with the City of Ballarat investing $5 million.
Since then, the Victorian Government has invested a further $45 million to unlock industrial land within the precinct.
The 438-hectare project involves the development of surplus Crown land for industrial, wholesale, logistics, construction, commercial and residential uses, to attract large-scale businesses to Ballarat, which will build on the region’s existing strengths and help boost the local economy.
Businesses already established in BWEZ include Luv-A-Duck, CHS Broadbent, Kane Transport and Westlab.
BWEZ is strategically situated in Ballarat’s west, located within one of Victoria’s fastest growing regional cities, with excellent access to the Western Freeway, main roads, arterials, skilled workforce and amenity.
Easy access to the Western Freeway in particular means that tenants can transport goods to the Port of Melbourne within 90 minutes.
Mr Edgar said the sales success of BWEZ to date demonstrated the strength of buyer and occupier confidence in the precinct.
“We have had interest from local, national and international occupiers drawn to the BWEZ precinct, as well as the regional city of Ballarat, which is one of Victoria’s largest regional cities and an expanding industrial and logistics hub.
“Ballarat, located just 90 minutes west of Melbourne, has strong road linkages, a strengthening labour force and a solid growth trajectory.
“BWEZ, being on the doorstep of Ballarat Airport, is particularly sought after for logistics businesses due to its connectivity, as well as the ability to conduct 24/7 operations and accommodate for future growth within the precinct.”
Mr Edgar said with sales to date, there were limited lots remaining available for purchase in BWEZ.
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