Subway secures 278 sqm at Industria Knoxfield

Subway secures 278 sqm at Industria Knoxfield
Subway secures 278 sqm at Industria Knoxfield

Subway has bought an office-warehouse space in Melbourne’s outer-east for $625,000 to set up its eastern seaboard training facility.

The sandwich restaurant chain joins other food and beverage businesses, trade services like Jim’s Mowing, a bike manufacturer and a spice maker among the other owner-occupiers in the new Industria Knoxfield strata commercial estate.

The deal pushes the project to more than 50 per cent sold. With only three units available, stage two is almost sold out, pushing stage three to launch ahead of schedule.

Located at 1464 Ferntree Gully Road, Industria Knoxfield is being developed by Wilmac Properties and Folkestone and will deliver 88 office warehouse units and a café when completed. 

Subway’s training facility is a 278 sqm office-warehouse unit. 

The deal was secured by Colliers International’s Andrew Chrapot and Jonathan Mercuri in conjunction with Crabtrees Real Estate’s Chris McKenzie, Luke Pitcher and Megan Miles. 

Subway secures 278 sqm at Industria Knoxfield

Chrapot said a surge in demand from local owner-occupiers and investors had fuelled demand ahead of July 1, when the stamp duty legislation will cease for off-market sales.

“Since the changes to off-the-plan stamp duty savings have been announced, which will be enacted at the start of the new financial year, there has been a splurge in transactions,” he said. “Buyers are trying to make the most of the savings in the time left and this has led to unprecedented sales.”

Chrapot said the remaining units were attracting keen interest and strong sale prices. 

“Units from 97 sqm to 312 sqm have achieved full asking prices, ranging from $249,000 to $775,000 respectively, amid strong demand from local private investors, owner-occupiers and self-managed super fund buyers,” he said.

The affordable pricing and the prime location, just minutes from EastLink, the Monash Freeway and Burwood Highway, had proven enticing factors to buyers, added Mercuri.

Stage one of the development is sold out, with settlement and occupancy taking place later this month. Stage two is 85 per cent sold and stage three is 45 per cent sold. Onsite café Half Half, by the operators of Mount Waverley’s Poacher & Hound, is due to open in July, they said.

Melbourne Warehouse Development

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