Undersupply and last‑mile location underpin strong result along the Monash Freeway.
A prominent infill industrial site at 5–7 Ricketts Road, Mount Waverley has been successfully sold for $5,000,000, by Colliers Jonathan Mercuri, Steph Archer and Alex Browne, following an intensely competitive sales campaign that highlighted ongoing demand for development‑ready land along Melbourne’s Monash corridor.
The 3,155 square metre triangular‑shaped site was offered with vacant possession and is zoned Special Use Zone 6, allowing a broad range of industrial and commercial outcomes subject to approval. Benefitting from direct exposure to the Monash Freeway and positioned within one of Melbourne’s most tightly held industrial precincts, the property attracted significant interest from owner occupiers, developers and investors.
Jonathan Mercuri, Colliers Director | Industrial & Logistics, said, “This site ticked every box for buyers looking to secure a long‑term foothold in Melbourne’s eastern industrial market. Vacant land opportunities of this calibre, particularly with Monash Freeway exposure and Special Use zoning, are exceptionally rare. The volume of enquiry we saw demonstrates that quality assets continue to attract competitive tension, especially where owner occupiers can move quickly to design and build.”
“Generating 94 enquiries reflects the ongoing undersupply of industrial land in this location. Buyers are very targeted, but when a site offers strong fundamentals like vacant possession, last‑mile connectivity and flexibility of use, they act decisively. This campaign clearly showed that demand for infill sites in Mount Waverley remains extremely strong,” added Steph Archer, Colliers Senior Executive | Industrial & Logistics.
Located approximately 16 kilometres south‑east of Melbourne’s CBD and just 300 metres from the Monash Freeway on‑ramp, the property sits within the Monash National Employment and Innovation Cluster and is surrounded by established commercial and industrial occupiers. Its prominent positioning also provides excellent signage opportunities and efficient access to Melbourne’s key arterial road network.
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