Industrial site in Melbourne’s southeast set to be developed following sale

Melbourne, Australia – A premium-grade industrial site in Melbourne's tightly held southeast will be transformed into a multi-unit business park following its purchase by Melbourne-based EO Developments.

The property at 130-140 Herald Street in Moorabbin comprises a substantial 7,798sq m landholding with 77.5 metres of street frontage and existing improvements totalling 1,052sq m, including office, showroom, storage and warehouse space.

Offered with vacant possession, the site was sold in a deal negotiated by Knight Frank agents Steven Salopek and Stuart Gill.

Positioned within the heart of the established Moorabbin industrial precinct, the asset benefits from close proximity to Warrigal Road, Keys Road, Cochranes Road, South Road and the Dingley Bypass, providing excellent connectivity across Melbourne's southeast.

Mr Salopek said the result reflected sustained demand for well-located industrial land opportunities in Melbourne's infill southeastern markets.

"This transaction demonstrates the significant depth of demand for industrial sites that offer genuine flexibility and future development potential in established metropolitan locations," he said.

"Large-scale sites with substantial frontage and vacant possession opportunities are becoming increasingly difficult to secure, particularly within highly sought-after precincts such as Moorabbin.

"The property's ability to accommodate a future corporate headquarters, business park development or owner-occupier outcome resonated strongly with the market and generated interest from a broad cross-section of buyers.

“The buyer intends to undertake a 27-unit multi-unit warehouse business park offering a range of different sizes.”

Mr Gill said Moorabbin continued to be one of Melbourne's most tightly held industrial locations due to its proximity to both major transport infrastructure and surrounding Bayside residential catchments.

"Moorabbin has undergone a significant transformation in recent years, supported by major investment in surrounding developments and ongoing demand from occupiers seeking strategic infill locations," he said.

"The precinct offers a compelling combination of accessibility, amenity and limited land supply, which continues to underpin strong buyer and occupier demand.

"The sale outcome highlights the value that purchasers place on rare redevelopment opportunities within established industrial markets where underutilised landholdings of this scale are increasingly scarce.

"We expect well-positioned industrial assets across Melbourne's southeast to continue attracting strong attention from capital seeking long-term growth and development opportunities."

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For further information, please contact:
Vanessa De Groot – Marketing & Communications, Knight Frank
Vanessa.degroot@au.knightfrank.com +61 410 460211

Notes to Editors
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, the Knight Frank network has 600+ offices across more than 50 territories and more than 20,000 people. The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants. For further information about the Firm, please visit www.knightfrank.com.