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Sector continues push into industrial land market at Altona

(Marc Pallisco, 24 Mar 2022, Real Estate Source - original article here)


The first lots within the HQ Altona business park have been released.

Sector Property Group is continuing to push into industrial land subdivision, launching its second major project this month.

HQ Altona, at 341-359 Kororoit Creek Road, near Millers Rd, 12 kilometres west of Melbourne, is set to make way for a 26 lot estate with the potential to accommodate over 32,000 square metres of product.


HQ Altona, at 341-359 Kororoit Creek Road, near Millers Rd, 12 kilometres west of Melbourne, is set to make way for a 26 lot estate with the potential to accommodate over 32,000 square metres of product.

The business park will replace a 6.2 hectare distribution centre abutting Cherry Lake, which the developer and investor picked up off-market late last year.

The launch comes two weeks since Sector offered plots within its first industrial park, also branded HQ, at Epping, 20 kms north of the CBD.

With 16 blocks, the first stage of that project, parcels between 1557-2076 sqm, sold out for over $1000 per sqm.

HQ Altona

HQ Altona is site enabled, with gas, power, NBN and water. The address is three kilometres from both the West Gate Freeway and Williamstown Village. It is about 10 kms to the Port of Melbourne.

“HQ Altona represents a unique opportunity to secure smaller industrial lots that lend themselves to a diverse range of commercial purposes,” Sector Property Group managing director David Loakes said.

“On top of the key utilities…the lots are located close to key arterials, with a booming residential area and commercial centre only a short distance, this area is not expected to stay undiscovered for long” he added.

CBRE’s Ricardo Cappelletti and Fergus Pragnell with JLL’s Danielle Tadi and Tom Edwards are marketing the estate in two stages – the first, comprising 10 lots between 1406-1875 sqm, for sale via an expressions of interest campaign closing April 11.

More to come Mr Loakes said “we are finding a huge of demand from industrial users who don’t want to set up in an outer suburban industrial park, or from customers, some interstate, who want to operate within a metropolitan Melbourne address for a variety of reasons, including that these locations help attract better quality staff”.

“Rising fuel costs of late are also making businesses reconsidering buying in, or operating from, the outer suburbs,” he added.

“Our HQ brand will target established infill, middle-ring areas, close to where these people live and want to work,” according to the executive.

Due to this increasing demand more estates of this type are planned before the end of the year, Mr Loakes said.

Sector controls self-storage and small warehouse brand The Base, too, which is also set to roll out new developments in 2022.

 

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