Two side by side industrial properties in Melbourne’s west have sold for a total of $9.05 million in separate transactions that took place within just a few months of each other.
While the office/warehouse facilities – at 8 Agosta Drive and 10 Agosta Drive – are virtually identical, they were sold by different vendors.
The deals, which saw both properties purchased by owner occupiers, were negotiated by Knight Frank agents Andrew Gallucci, Steve Jones and Joel Davy.
The fenced facilities each have 1,371sq m of net lettable area, comprising an expansive internal warehouse component of 1,143sq m with an 8.2-meter clearance and an elevated air-conditioned open plan office space of 228sq m above the canopy. They each have 20 car parks.
They are located only minutes from both the Western Ring Road and West Gate Freeway, ensuring efficient transit to Melbourne’s key infrastructure.
Mr Gallucci said there was very strong buyer interest in the properties, with a large number of inspections resulting from not only direct enquiries from marketing, but also canvassed from Knight Frank’s databases.
“Demand for industrial property is still strong, with this property type in high demand amongst investors as well as owner occupiers,” he said.
“In the current market buyers are looking for quality facilities in sought-after locations with desirable attributes.
“Prospective purchasers of these Laverton North properties liked the location in the popular Laverton North industrial precinct.
“They were also drawn to features of the facilities including the high clearance and the wide front yard supporting multiple container drops.”
Mr Jones said the second property was put on the market following the success of the next-door facility.
“The owner was impressed by the price achieved, and wanted to capitalise on that for his own property,” he said.
“The buyers who missed out on the first property were still on our books, and also competed for the second facility.
“Opportunities to purchase facilities like this in Laverton North don’t come up very often, so we had a strong response to the marketing campaigns.”
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