A private syndicate has snapped up Nissan’s Melbourne headquarters, which spans more than 11ha in the sought after industrial suburb of Dandenong South.
CBRE’s David Aiello and Stephen Adgemis negotiated the sale after a highly competitive Expressions of Interest campaign, which attracted more than 80 enquiries.
The 260-270 Frankston-Dandenong Road site totals 11.42ha and currently accommodates Nissan’s corporate office and parts warehousing operations.
Nissan plan to secure a new Australian Corporate head office designed to house the business for the next generation, improving culture, facilities and amenity.
“The property provides a landmark “infill” development opportunity in Melbourne’s south east,” Mr Adgemis said, adding that industrial land prices in that location had spiked to record levels over the past six months.
“Development and value add opportunities are becoming increasingly scarce in the south east, with most of the major sites owned by only a handful of developers. This underpinned significant national interest in the Nissan sale campaign from both developers and occupiers.”
The Dandenong South property consists of a 2.68ha corner site featuring a modern two-storey office building with a net lettable area of 4,846sqm. An adjoining 8.7ha landholding at 8-22 Quality Drive comprises three separate facilities with a total building area of 27,584sqm – including a self-contained training centre.
Combined, the properties offer more than 700 metres of street frontage to Frankston-Dandenong Road and Quality Drive.
“With only 28% of the site utilised in its current form, there is a huge opportunity to further capitalise on its position through value-add or expansion possibilities,” CBRE’s Mr Aiello said.
The property is located approximately 5km south of the Dandenong CBD and retail centre – positioning future occupiers within a large employee or workforce catchment area.
Nissan Australia Chief Financial Officer, Stephen Hope said; “The upcoming relocation of the parts warehouse facility to Truganina provides Nissan the rare opportunity to review every aspect of what a building means to the business.”
“Innovation is at the core of the Nissan brand and we are seeking a new head office facility that reflects this philosophy as well as one that will help to attract and retain the best industry talent.”
“Nissan Australia has already had internal workshops to collect ideas, our global team has visited to understand market conditions, and our partners, like CBRE, have helped us prepare for the next steps in the relocation process,” Mr Hope said.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.