One of Springvale's last remaining parcels of undeveloped industrial land has been acquired for $5 million by a joint venture partnership between Franzé Developments and Sampieri Group.
Purchased from Nuplex, the proposed 4.2 hectare Springvale Business Park is located at 1626 – 1638 Centre Road, Springvale. Franzé Developments and the Sampieri Group will transform the prime industrial zone one land into a state-of-the-art staged business park with flexible tenancy configurations.
The business park will be purpose built for all types of occupiers seeking industrial space ranging from 90 square metres up to 20,000 square metres.
Franzé Developments DirectorPaul Franze said the partnership is targeting local businesses looking to expand and grow.
“The Springvale Business Park provides a rare opportunity to secure real estate in the rapidly growing and tightly held south eastern suburb of Melbourne.
"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.
“Springvale Business Park is an affordable commercial investment in Melbourne’s sought after south east corridor. We’re anticipating commercial returns of up to seven percent which is a sound investment for local businesses.”
The Springvale Business Park is located approximately 21 kilometres from Melbourne’s CBD and 26 kilometres to the Port of Melbourne via the Princess Highway, Monash Freeway and Eastlink.
The Business Park is 1.7 kilometres to Westall train station and will be serviced by excellent amenity including the Springvale Homemaker Centre and the Springvale Shopping Centre Precinct.
The development application is currently with the City of Greater Dandenong and construction of Springvale Business Park is scheduled to commence late 2017, with stage one due for completion in mid 2018.