Industrial land remains hot property within Melbourne’s North29 November 2023
Colliers has successfully transacted two industrial landholdings off-market, as buyers jump on opportunities to secure vacant industrial sites.
The two assets, located on 205-207 Northbourne Road, Campbellfield and 34 Yellowbox Drive, Craigieburn, were transacted for over $5.2million combined, totalling a land area of 5,679sqm, representing a significant land rate that illustrated the continued high demand for land in Melbourne’s northern industrial market.
Mitch Purcell, Colliers’ Industrial Associate Director, said, “Despite 2022 reflecting a record year of total land take up, there remains an undersupply of available serviced lots within the core northern market particularly.”
“Both properties were sold to incoming owner-occupiers who are expanding their operations within the northern industrial market.”
Colliers’ Industrial Associate Director Corey Vraca said, “Despite enquiry normalising following record levels of demand over the past two years, the fundamentals of industrial remain strong with low vacancy and continued record market rates being achieved.”