Press Release
Owner-occupiers looking to secure land opportunities in Truganina
Melbourne
December 2, 2022
Media Contact
Senior Communications Specialist, Australia
Australian-based property development company Conrock has acquired a Truganina development site for $5.6 million with plans to utilise the land for a distribution facility.
The 7,232sqm, 40 National Drive site was sold as a ready-to-develop site with concept plans and permits for a 4,500sqm office warehouse.
CBRE’s Ricardo Cappelletti, Lachlan May, Fergus Pragnell and Tom Murphy brokered the deal on behalf of the private vendors.
“With no existing buildings available to purchase within the required size range, we are seeing a wave of owner-occupiers looking to acquire quality land opportunities,” Mr Cappelletti said.
“Multiple owner-occupiers and a developers competed to secure the lot, with the location among national occupiers and the existing planning permit being major draw cards.”
The site is surrounded by high profile brands such as Target, Woolworths and The Reject Shop.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.