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Off-market Melbourne industrial land sale achieves in excess of $30m

Off-market Melbourne industrial land sale achieves in excess of $30m

Rook Salinger has completed the off-market sale of a 14 hectare industrial site at Tottenham, 11km west of Melbourne’s CBD. The large site has extensive frontage to Somerville Road and backs onto a railway line.

The well-known site owned by the Victor Smorgon Group for many years had been identified by them as surplus to future business needs, engaging Rook Salinger and Cushman & Wakefield to secure an appropriate buyer. The site has been purchased by a private developer with a 3 year lease to a container storage operator (for part of the site), and plans to develop the balance into a new business park.

Rook Salinger director Michael Hayden said, “The sale price in excess of $30 million reflects the strong demand for development land in proximity to the city with good transport links.”



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