Developer snaps up long held BOC site in $12.1million Dandenong South deal

BOC Limited has sold a long-held industrial site in Dandenong South to a private developer for $12.1 million.

The 15,484 sqm site at 111 Frankston-Dandenong Road was owned and occupied by BOC since the 1980s but became surplus to requirements.

CBRE’s Patrick Noone led the sale campaign alongside Alex Grima and Sasan Misaghian.

Mr Noone said the campaign attracted a mix of owner-occupiers and investors, with interest coming from transport operators, trade retail occupiers, and industrial developers, looking to secure a site in one of Melbourne’s tightest land markets.

“The level of enquiry we received from both industrial and retail groups highlighted the flexibility of the site and the broad appeal of Dandenong South as a strategic location for occupiers looking to service Melbourne’s east and south east,” Mr Noone said.

“Dandenong South remains one of Melbourne’s most sought-after industrial precincts, and land availability has continued to shrink. This sale further demonstrates that buyers are moving quickly when opportunities like this hit the market,” Mr Noone added.

Mr Grima said the buyer had been actively seeking expansion opportunities in the area and intends to deliver an industrial estate on the site as part of a broader strategy to grow their footprint within the established logistics and manufacturing hub.

“The purchaser already holds assets nearby, so this acquisition was a logical extension of their existing portfolio. They recognised the long-term value of securing another infill development site in a land-constrained market,” Mr Grima added.