Three properties on nine adjoining titles are being offered for sale individually or in one line on Melbourne’s city fringe.
The portfolio, which comprises a freestanding office building, two character warehouses and a carpark, is expected to generate interest north of $10 million for the combined portfolio.
Colliers International’s Matt Stagg, Oliver Hay, Anthony Kirwan and David Walker are appointed to sell the three West Melbourne properties spanning a total site area of 1,668 square metres.
The development sites include a two-storey 1,031sq m office building at 218-228 Stanley Street; a 269sq m sawtooth character warehouse and adjoining car park on a combined 600sq m site at 210-214 Stanley Street; and a 314sq m warehouse and land at 205-207 Roden Street.
The agents said they expect interest from occupiers, investors and developers who “continue to circle the Melbourne market”.
“The city fringe has been identified by many developers, in particular, those with a commercial angle,” Kirwan said.
Low CBD vacancy rates and rental values have generated solid interest in Melbourne’s city’s fringe location.
“This pocket is quickly emerging as one of Melbourne’s most diverse precincts with vibrant apartment living, student housing complexes… [as] well as countless infrastructure projects including the Melbourne Metro Rail and West Melbourne Structure Plan,” Walker said.