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SOLD

508-550 Wellington Road, Mulgrave, VIC, 3170

Properties / Sold / Victoria / Mulgrave

Development Potential

1. Property Summary

Property Type

Industrial

Land Area

23.23 hectares (*approx)

Selling Method

For Sale: In-One-Line via International Expressions of Interest Closing Thursday, 24 August 2023 at 3.00pm (AEST).

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2. Property Highlights

A Last Mile Logistics Opportunity of Unmatched Scale

23.23 Ha* potential infill development
Ideal last mile logistics location
Net Passing Income of $6.15million p.a.*

Dawkins Occhiuto are pleased to exclusively present for your consideration the most significant infill opportunity to come to market in 2023.

Located approximately 23 kilometres southeast of the Melbourne CBD, 508-550 Wellington Road, Mulgrave represents an unprecedented opportunity to acquire an enormous 23.23 hectare* infill site within one of Melbourne’s most tightly held inner southeastern suburbs.

Underpinned by strong tenant covenants, the property offers an impressive, combined holding income, future development upside and the ability to reposition existing improvements, capturing rental reversion.

522-550 Wellington Road is home to Woolworths’ Victorian head office and one of two national distribution centres operated by the retail giant. 508-520 Wellington Road comprises Renold Australia’s head office, factory and distribution centre.

Key features of the offering include:

Total site area: 23.23 Ha*
One of Melbourne’s largest infill sites
2 adjoining logistics & distribution centres offering 76,193 sqm* of gross lettable area
100% leased to Woolworths and Renold Australia
Ideal last mile logistics destination in the heart of the South East
Net passing income: $6.15 million p.a.* (as at 1 August 2023)

This standout property is offered for Sale In-One-Line via International Expressions of Interest closing Thursday, 24 August 2023 at 3.00pm (AEST).

Please contact exclusive selling agents, Dawkins Occhiuto for more information.

*Approx.

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