Clayton site provides the opportunity to maximise income while offering development (STCA)
News release
22 August 2024
Industrial 3.65ha infill site with development upside
Your browser doesn't support speech synthesis.
Listen to article •
Read time: 1 sec
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).
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.