CBRE announces Alliance Business Park development fully sold
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Integrated property company MAB Corporation has sold the last remaining allotment in its Alliance Business Park development in Epping to a local industrial developer for $10,994,000.
The 11,950sqm Comprehensive Development Zone land offers three street frontages to Edgards Road, O’Herns Road and Trafalgar Road.
CBRE’s Daniel Eramo, Joe Brzezek, Jake George and Corey LeFavi brokered the sale in an off-market deal.
“Although the buyer depth for land decreased throughout the last quarter of 2022, there is still a flight to quality for qualified and experienced groups seeking versatile sites within core areas, who are prepared to continue to pay strong rates,” Eramo said.
MAB General Manager Commercial and Industrial, Michael Martin said.
“The sale of the last lot signifies a strong result and marks the successful completion of the sales campaign,” Martin said.
“The sale demonstrates there is still solid underlying demand for well-located industrial land in Melbourne’s North, with good exposure and access to transport infrastructure,” he said.
Alliance Business Park is a 96ha $144million industrial and commercial hub and is occupied by national businesses Mainfreight and Gallagher.
The estate features a 3.6ha basin including a 700m walking track with cyclist and pedestrian access to the Craigieburn Bypass Trail.
Source: CBRE media release
