Land moves interstate

AN ICONIC Dandenong South industrial site is now in Western Australian hands.
Warrington Property has bought a 7.9 hectare slice of the former General Motors Holden manufacturing site from Cbus Property.
The multi-million dollar off-market transaction was Warrington’s first interstate deal.
The property is part of Estate One and includes three separate lease parcels, with McDonald’s distribution partner Martin Brower, Ceva Logistics and Personalised Freight Management the tenants at two warehouse buildings and a cold store logistics centre.
Warrington Property partner Chris Weaver said the site’s commercial zoning offered “long-term use potential other than fixed industrial”.
He said it was well-configured landholding, on a main road with easy freeway access and had good quality buildings and tenants.
“Essentially, we’ve acquired the site as a long-term investment,” he said.
“There’s the potential for us to add space to the existing business if we needed to accommodate those existing tenants.
“Our motivation will be to keep those existing businesses in that location, on that site, and keep the jobs in the City of Greater Dandenong.”