$70 million business park in Melbourne up for sale or leasing

A new $70 million business park in Melbourne's technological precinct of Notting Hill is being marketed by CBRE for sale and lease.

Uni Central at 19-53 Duerdin Street is a two-stage development comprising office and industrial spaces. Construction of Stage One has just completed and ready for occupation.

The business park comprises single-storey buildings, an on-site café and conference centre. Stage One has 28 office suites ranging from 40 sqm to 164 sqm, with about 65% presold.

Among the early occupants, hardware product merchandiser Strikeforce has pre-leased 800 sqm of office and 500 sqm of warehouse space in Stage One, while medical equipment firm Mediquip has purchased an off the plan turn-key solution.

CBRE's Elise Betts and Bryce Pane have been appointed for leasing the units.

“The park offers quality construction and premium finishes, built by Bryson Group, a proven developer. Uni Central is in the technological precinct of Notting Hill and is built to an integrated masterplan, it also benefits from convenient access via major arterials," said Betts.

The office to warehouse ratio in both stages is 30/70.

“Owner occupiers, such as trades, import/exporters, e-commerce and design companies are likely to show the most interest in the units,” Pane said.

Stage two is under construction and offers 12 office/warehouses in sizes from 263 sqm to 525 sqm.

Six hi-tech units with 60% office and 40% storage also form part of Stage Two, aimed at attracting occupiers with a large workforce who benefit from the close proximity to Monash University, CSIRO and the Synchrotron.

“Occupiers in the medical, computer, research, tech and communications industries are amongst the most likely end users,” Pane added.

Stage Two is expected to be delivered in Q2 2017.