Last mile development opportunity in Melbourne up for sale

One of the last remaining large-scale prime industrial development opportunities in Melbourne’s inner northern growth corridor is going on sale for the first time in 50 years.

The sale, initiated by the Grollo family, will be providing a key last mile or mixed-use development opportunity.

Located at 10-18 Chifley Drive, the 19,100 sqm site comprises several derelict buildings with 115m of street frontage to Chifley Drive.

CBRE’s Bryce Pane, Joe Brzezek, Daniel Eramo and John Camilleri from Killen Thomas will steer the Expressions of Interest campaign, which closes Thursday 25th November at 3pm AEDT.

“Industrial property in the Preston area is a popular choice for mixed-use developments with neighbouring sites recently being converted into a brewery, bowling alley, bar and bistro,” Payne said

The site is surrounded by Northland Shopping Centre, Thornbury Railway Station and the Bell Street Activity Centre (Bunnings, JB Hi Fi, Amart, Rebel, Total Tools) and is ideally situated to provide strategic last mile logistics to the residential catchment via connectivity to major road networks.

“This latest block to hit the market is zoned Industrial Zone 3 (IND3), presenting several development outcomes for developers to capitalise on the area’s amenity and deliver products beyond industrial use, subject to the relevant planning approvals,” Payne continued.

The site is located 7.75km from Melbourne’s CBD and it is close to Bell Railway Station, Northland Shopping Centre and Auston Hospital.