Owner-occupier acquires Hallam industrial site for $5.15 million

A rare low-site coverage industrial property in Hallam has changed hands for $5.15 million, equating to a robust $1,030 per sqm across its 5,000 sqm landholding.

CBRE agents Patrick Noone, Alex Grima, and Fraser Pearce managed the sale of 22-24 Hallam South Road.

The property’s prime main road frontage and expansive rear yard drew significant attention from developers and owner-occupiers alike.

While the deal didn’t close at the initial expressions of interest deadline, a Hallam-based owner-occupier who had been eyeing the site for months was successful in acquiring the property.

The buyer plans to redevelop the property and leverage the rear yard for operational needs, underscoring a growing trend of local businesses paying a premium to stay within the Hallam precinct.

“Four of our last five sales in Hallam have been purchased by occupiers who are already established in the area. They’re willing to pay more to remain here due to its toll-free connectivity to the Monash Freeway and to avoid the congestion of Dandenong South,” Mr Noone said.

Mr Noone noted this transaction highlights continued demand for well-located industrial sites in Melbourne’s southeast, particularly from owner-occupiers, chasing strategic positioning and operational flexibility.