The Base Wantirna South sells out as owner occupiers dominate the market
(original article appeared Australian Property Market News 16 June 2023 - https://propertymarkets.news/the-base-wantirna-south-sells-out-as-owner-occupiers-dominate-the-market/)
Demand for Sector Property Group’s popular warehouse offering, The Base, has soared in recent years with various locations having sold out in record time, with the first stage, The Base Wantirna South, selling out in just two months.
The first stage of Sector’s latest offerings located in Wantirna South, just 25km east of Melbourne’s CBD, has already sold out with the second stage of the project being released to market ahead of time.
Toby Dunwell, Sector’s General Manager said, “Interest for the Base Wantirna South has exceeded expectations with demand for smaller industrial warehouses and offices being highly sought after as vacancy rates are on a record low across Melbourne’s industrial markets.
“There is a very limited amount of speculative stock being brought to market and smaller industrial warehouses targeted for private businesses are scarce.
”Stage two of The Base Wantirna South offers a range of spaces. The large office warehouses feature airy office mezzanines, kitchenettes, bathroom facilities and provisions for high-speed internet, making them perfect for modern businesses, ranging from approximately 180sqm – 220sqm.
“Interest for the Base Wantirna South has exceeded expectations with demand for smaller industrial warehouses and offices being highly sought after as vacancy rates are on a record low across Melbourne’s industrial markets."
With similar sizing to the large office warehouses, the High-Tech Warehouses, are designed to be utilised by more professional businesses with a reception and showroom, while the final offering, the work stores designed for growing business for inventory and equipment and also commonly utilised by cars, boats, caravans and often designed as a kind of man cave, ranging 29sqm to 91sqm."
Selling agent Dylan Ashby from Hudson Bond Commercial said the large majority of the first stage of the sold-out release was snapped up by owner occupiers.
“The owner occupier market is as strong as ever. The investor market has also proven to be resilient with interest rate rises simply increasing investors’ expectations on rental yields.”
“The investors like the ability to set and forget. Once the space is leased, they say it’s a no fuss investment which is ideal for busy investors,” says Dylan.
The success at Wantirna South follows the popular Base developments in Mitcham, Ringwood, Point Cook, Preston and Oakleigh.
Pricing of the generously sized and architecturally designed workspaces part of the second stage of Wantirna South ranges between $179,000 – $785,000.
These exclusive offices are currently for sale via expressions of interest campaign. Contact selling agents from Hudson Bond Commercial or CBRE to discuss setting your business within the leafy green suburb Wantirna South.
The Base Wantirna is another high quality project proudly developed by Sector Property Group.
For more information about The Base Wantirna, visit the website at thebasewantirna.au