Sector Property Group has purchased a 6.19ha land parcel in Altona for $24.5 million.
The Melbourne-based developer will subdivide the site at 341-359 Kororoit Creek Road into serviced lots over the coming months.
The front half of the property is currently occupied by a pair of transport operators, separated by a cul-de-sac that provides access to the rear of the site.
On the busy Kororoit Creek Road arterial in thriving Altona, the site is approximately 6km from the Port of Melbourne and 9km from the Melbourne CBD, and offers easy access to the Princes Freeway.
CBRE’s Bryce Pane and Ricardo Cappelletti negotiated the transaction on behalf of the private vendor.
“The site’s location, on a main road within a tightly-held precinct, was a major drawcard for the buyer,” Mr Pane said.
“Sector Property Group will look to subdivide the site into smaller allotments for resale, and we envisage these lots attracting strong interest from local occupiers and developers,” Mr Cappelletti added.