Industrial 3.65ha infill site with development upside

JLL, in conjunction with AND Property, has been appointed to market a substantial warehouse investment and development opportunity at 159-171 Wellington Road, Clayton that is expected to appeal to active managers and logistics developers.

Located in one of Melbourne's core industrial suburbs, the property offers a site of around 3.65 hectares. Its flexible zoning allows development of office, manufacturing, warehousing and other potential uses, being located in the heart of Monash’s Life Science precinct (Subject to Council Approval). The site is zoned Special Use 6 and benefits from its proximity to major residential and employment centres, such as the Monash National Innovation and Employment Cluster.

JLL’s Lachlan Ferguson, Ben Hegerty, Stephen Adgemis and Joel Scully have been appointed to market the property in conjunction with AND Property’s Bryce Pane and Ricardo Cappelletti through an Expressions of Interest (EOI) campaign.

"As this property is a strategic investment opportunity, it’s expected to generate competitive interest," said JLL Head of Logistics & Industrial - Australia Ben Hegerty. “With its prime location and potential for development, investors have the opportunity to actively manage the asset whilst awaiting development approval (STCA),” Mr Hegerty said.

AND Property Director Bryce Pane said the property comprises 9485 sqm of Gross Lettable Area (GLA), with a low site coverage of just 26%. The site includes an expansive 2.1ha of concrete hardstand to the rear.

“There is the potential for logistics development on this site (STCA). As retailers and distributors face growing pressure to swiftly deliver consumer goods and perishables to densely populated areas within tight deadlines, third-party logistics (3PL) providers are increasingly seeking strategically positioned facilities near major population centres to reduce delivery times,” Mr Payne said.

JLL Director of Logistics & Industrial, Lachlan Ferguson said the location advantage of Clayton, combined with the property's versatility and zoning flexibility, make it an attractive investment opportunity.

"Investors can capitalise on the last-mile attributes and the growing demand for strategically positioned facilities in densely populated areas," said AND Property Director Ricardo Cappelletti.

“Furthermore, the property is close to Monash University, Monash Medical Centre, and other major educational and healthcare institutions, making it an ideal location for businesses in the technology, research, and innovation sectors.”

159-171 Wellington Road, Clayton is being sold via an Expressions of Interest campaign closing Wednesday, 11 September at 3 pm (AEST).