Owner-occupier pays Dandenong South record price in off-market deal‏

An owner-occupier is believed to have paid a record price for a 20 year old office and warehouse complex at Dandenong South in Melbourne’s south-east.

It was in an off-market deal brokered by Savills Australia’s Notting Hill Office.

Savills’ senior industrial executive, Paul Jones, who negotiated the deal with director, Kosta Filinis, could not disclose the price.

However local sources put the price at around $8 million.

Located at 6 Advantage Drive, the property comprises two office and warehouse facilities of 2700 square metres and 5000 square metres on one 14,000 square metre title with 55% site coverage.

Mr Jones said the buyer was attracted by the location, close proximity to all main arterial road networks and the extensive infrastructure (power and gas).

Mr Filinis said the price, considered to be a premium for the area, reflected the location in one of the most tightly held precincts in the south-east.

The property was sold with vacant possession.

Image courtesy of onthehouse.com.au