Altona industrial site fetches $3.62 million

Katherine JimenezOctober 1, 2013

A large industrial site in Melbourne's western suburb of Altona has fetched $3.62 million 

The 34,510 square metre parcel of industrial land,  at 44-58 Marshall Road, was purchased by an owner occupier/builder, who is looking to construct a large scale warehouse, providing jobs for the local community.

The price represented a sale rate of $105 per square metre.

“This successful sales result suggests that the Western Suburbs of Melbourne have rebounded from the subdued economic conditions experienced in recent years,” said DTZ Associate director of industrial, Mr Rob Mirabello.

“We are witnessing an increase in demand for development sites in Melbourne’s West as businesses are now realising the value of the area with sophisticated road infrastructure in place and a strong, readily available labour force.”

Editor's Picks

GWH implements tech-focused lifestyle upgrades at ONE Apartments Newcastle
First look: Two-tower plans for hundreds of new homes in Westmead health hub
Inside Park Modern, South Melbourne: Five minutes with Time & Place Founder Tim Price
Time & Place kicks of construction at Two Tides Manly with half of the apartments sold
First look: Carpe Group and ICON Developments team up again for new downsizer apartments in Hawthorn