Rare asset within Victoria’s first eco-industrial business park for sale

7 February 2023

An extremely rare freehold, stand-alone prime office and warehouse facility within Melbourne’s South East tightly-held industrial precinct, Dandenong South has been brought to market by Colliers’ Gordon Code, James Stott, and Daniel Telling, in conjunction with Cameron agents Angus Clark and Henry Sayers.

Located at 54-66 Smeaton Avenue, Dandenong South, the 6,742sqm office and warehouse facility is a logistics masterpiece sitting on a 13,340sqm site within Dandenong Logis Estate, Victoria’s first eco- industrial business park with new levels of design, amenity and environmentally sustainable initiatives.

“Melbourne’s South East industrial market has recorded significant growth over the past five years, underpinned by heightened levels of occupier demand, facilitating new supply and market expansion,” said Mr Code. “The area is considered one of the country’s most tightly held industrial markets, supported by its proximity to a large and growing population, access to key infrastructure and diminishing land availability.”

Mr Code added, “Quality assets available to market are at extremely low levels with very few opportunities brought to market. The blended vacancy for properties above 3,000 sqm currently sits at 0.35 per cent in Melbourne’s South East and has been under 1 per cent for over two years.”

The property is located within the tightly-held Dandenong Logis Estate, an award-winning master- planned industrial estate, already occupied by known tenants such as Startrack, Spicer Paper and Ego Pharmaceuticals, is set to attract interest above $17 million.

The stand-alone core office and warehouse property was constructed by reputable Elite Property in 2015, presenting as-new appealing to a broad mix of industrial occupiers.

“The asset, currently leased to global brand Sistema Plastics, a wholly owned subsidiary of Newell Brands (NASDAQ: NWL), comes with the flexibility to occupy or re-lease in a market that has been starved of quality leasing opportunity,” said Mr Clark.

“As a premier industrial precinct, Dandenong Logis Estate, has consistently attracted strong demand from manufacturing, construction, logistics and general industrial users, with many business owners and a significant local workforce living in the growing south-eastern corridor,” Mr Clark added. 54-66 Smeaton Avenue, Dandenong South, is currently for sale by expressions of interest, closing at 4 pm, Tuesday, 28th February 2023.