Market Updates

November 29, 2018

QUALITY INDUSTRIAL FACILITY

SOLD
3B / 97-107 Canterbury Road, Kilsyth

The Victorian economy has grown at a faster rate than the Australian economy over the past few years.  From 2015-16 through 2017-18, Victoria’s state gross product increased at an average of 3.7% each year, much greater than Australia’s GDP growth of 2.6% per annum over the same years.

Some of this strong growth has been due to the continued investment in Victoria’s infrastructure and transport projects.  This investment has flowed through into other parts of the local economy, benefiting a range of businesses and industries.  In particular, Nichols Crowder and Nixon Industrial have seen greater demand for industrial property by companies in related infrastructure and transport sectors.

An example of this was seen with the recent purchase of a large modern warehouse at 3B/97-107 Canterbury Road, Kilsyth by an owner occupier in the traffic control sector.  Selling for $5.4 million, the 4,588sqm building was set on land of 8,363sqm.  The property included office facilities of 588sqm, several large loading bays, multiple roller doors, and extensive on site car parking.

Following on from the Victorian government’s election win on November 24, and with a mandate for further investment in infrastructure and transport projects over the next few years, demand is expected to remain strong for commercial and industrial properties across a range of sectors.

For further details contact: DAVID GARFIELD 0412 651 661