Springvale will soon be home to a new business park.
Franze Developments and Sampieri Group bought an undeveloped 4.2 hectare industrial site on Centre Road from Nuplex for $5 million.
They plan to transform the land into a business park with flexible tenancy configurations ranging from 90 square metres to 20,000 square metres.
Franze Developments director Paul Franze said the partnership was targeting local businesses looking to expand and grow.
“Springvale has been identified by Melbourne 2030 as a major activity centre, and developments such as the Springvale Business Park will contribute to the evolution of the area into a modern and integrated centre with good design outcomes,” he said.
“We’re anticipating commercial returns of up to 7 per cent which is a sound investment for local businesses.”
The development application is with the City of Greater Dandenong.
Construction is scheduled to start late this year, with stage one due for completion mid next year.
Visit www.springvalebp.com.au for more information.
