Market Updates

August 02, 2017

Prime Chelsea Heights land

SOLD

A prime vacant land site of around 3.53 hectares at 107 Wells Road, Chelsea Heights has been sold by private treaty for $8.71 million.  Zoned Industrial 3, the large site has approved permits and plans for 55 warehouses and four showrooms.  It backs onto the Frankston Freeway, providing great exposure for the future development.

The deal was negotiated by James Dodge and Joshua Monks of Nichols Crowder Carrum Downs, in conjunction with David Garfield of Nixon Industrial.  “With a lack of serviced land with good road access, there are few major land sales in this area,” says Dodge.  “This is a great result for Chelsea Heights, with the proposed warehouse development providing opportunities for investors and small businesses to buy into the area.”