In Braeside, Green Is Good
The Age
Saturday March 2, 2002
THE 122-hectare Woodlands Industrial Estate in Braeside has set a benchmark for such estates, with about 53per cent set aside for industry, 24 per cent reserved for public open space and the remainder being developed as an urban wetland and lake system.
This appealing environment, enhanced by and the site's proximity to transport networks, has attracted several national and international companies, including Kmart, Phillip Morris, Dulux Paints and Australia Post.
Now on the market, the property at 91-105 Woodlands Drive also hosts its share of well-established firms, with long leases to Aggreko Generators, Standard Communications, Frank Davis Nominees (Davis Laundry) and Flavour Makers. Target is on a short-term lease.
The property comprises five as-new, high-clearance office/warehouses with a total building area of 10,400 square metres, generating a total income of $757,179.
The office accommodation of each facility, with the exception of Target, consists of a glass facade frontage while the warehouses, which provide high-clearance clear-span accommodation with container height, roller-shutter doors, are behind each of the offices.
Zoned Industrial 1 under the Kingston Planning Scheme, the 2.5-hectare site has three titles and a 62-metre frontage to Woodlands Drive
Selling agent Tony Iuliano, from Colliers Jardine, said the key features of the property were the flexibility offered by three titles, long-term leases, development potential, depreciation benefits and an investment risk spread over five tenancies. Since stage-one lots were released in early 1994, $7.5million has been expended on infrastructure works and purchasers have committed about $200million to build greenfield manufacturing, storage and distribution complexes.
The final stage of 24 allotments was recently released, with nine allotments remaining for sale, Mr Iuliano said. The property at Woodlands Drive will be sold by tender closing at noon on Friday, March 15, at the office of Colliers Jardine, level 32, 367 Collins Street, Melbourne. It is expected to sell for more than $8million.
For details call Tony Iuliano from Colliers on 9629 8888, or Rod Neville at Knight Frank on 96025722.
© 2002 The Age