Bendigo’s restricted vacant industrial land makes a golden opportunity for buyers to acquire fast

27 February 2024

Colliers & CVA has successfully transacted 70% of industrial allotments in the first few months of being appointed, as buyers jump on opportunities to secure vacant industrial sites. Following a high volume of sales, construction commenced in late 2023, with an official soil turning ceremony set to be held on site on the 29th of February from 10 to 11 am.

Invicta Industrial Estate is the first Greenfield industrial precinct of its scale in over 7 years in Bendigo. Located at 155 Victa Road, East Bendigo, the site covers a land area of 23 hectares with a variety of lot sizes offered to the market, ranging from 2,000sqm to 32,000sqm* catering for all local and metro occupiers.

The prime industrial property is set to energize the region, supporting Bendigo’s industrial revolution and rapid economic growth, with a reported 260% increase in the median value of industrial assets since 2020.

Travis Hurst, Colliers’ Bendigo Managing Director, said, “A shortage of supply of industrial land has existed in Bendigo and indeed across regional Victoria in recent years. There are a range of purchasers from owner occupiers seeking accommodation for their enterprises as well as investors and developers”.

“The development of the Invicta Estate will satisfy accommodation requirements for existing industrial enterprise in Bendigo as well as provide accommodation for new businesses seeking to establish themselves in the region”, Mr. Hurst added.

The Estate is in conjunction with CVA Property Consultants and is being developed by Hickory Group, offering a solid investment opportunity for business owners to upscale in Greater Bendigo.

CVA Property Consultants Director Daniel Philip, said “We have experienced an unprecidented appitite from both the local market and also developers within the Melbourne Metro area who are eager to capitalise on one of Bendigo’s most substantial industrial projects, given the the limited availability of industrial land lots and buildings.”

Hickory Group Development Manager Campbell Howell said, “Pent-up demand for Subdivided Industrial land was the catalyst for launching the project when we did. With little to no supply in the region in the last few years, the project team made a conscious effort to design an estate to cater for a variety of purchasers/occupiers.”

“As Industrial yields continue to grow, Invicta Estate provides an opportunity for investors, developers and owner occupiers to capitalise on a sector that is rapidly expanding but has not yet peaked due to inadequate supply”, Mr. Howell added.

With under 12 months remaining in construction, the future for East Bendigo is promising, with Invicta Estate set for completion in Q1, 2025.