Record Sale Boosts Confidence in Lucrative South East Corridor
Leading commercial estate agency Nichols Crowder has set a Greenwedge land suburb record with the off-market sale of 774 – 856 Frankston-Dandenong Rd, Carrum Downs.
The 872,500sqm (87.25 ha) land parcel bordering Frankston-Dandenong Road and Thompson Road with Eastlink at the rear boundary, was snapped up by developers Bayport Group for $25,000,000.
Earmarked for future industrial development, Bayport Group Managing Director, Richard Torossi, said that as a progressive locally owned development company, Bayport Group was always looking for prime land banking opportunities such as this.
“We are always keen on securing such prime sites as 774 – 856 Frankston-Dandenong Rd, Carrum Downs for future development,” he said.
Sales Executive Renato Daniele said “the land whilst in the Greenwedge was the logical next step should the Council consider rezoning more land for industrial purposes as the land within the municipality was quickly running out”.
As a leading commercial estate agency in Melbourne, specialising in the south-east, Nichols Crowder has offices in Mornington, Moorabbin and Carrum Downs.
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