First lease opportunity in years in the tightly held Oakleigh Industrial Estate

5 February 2024

Colliers National Directors James Stott, Jonathan Mercuri and Richard Wilkinson set a new benchmark leasing deal for a 5,000sqm+ facility located on 2,1090-1124 Centre Road, Oakleigh South. Colliers had been quoting $150/sqm net for a total superficies of 8,333.52 sqm, securing the deal in record time.

James Stott, National Director of Colliers, comments, “The South East is proving to be one of the most resilient industrial markets in the country. Compared to other major metro markets, the industrial market’s predictions are set to be insulated to external economic pressure thanks to an anaemic development pipeline.”

“It is already reflected in our vacancy rate trending downwards in the second half of 2023 and currently being positioned at 0.69%”, Mr. Stott added.

The prime grade stand-alone facility was initially delivered by leading industrial builder Texco Construction in 2017. The high-quality distribution centre was then released by the existing tenant, Stockland, and transacted by Colliers to World Wire Cables, whose objective is to support their business growth with strategic location.

The mutli-faceted building provides corporate offices on two levels while offering a high clearance full sprinklered warehousing up to 12.2m. Its emplacement connects directly with Melbourne’s major arterial roads including Eastlink (M3) and Monash Freeway (M1).