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Vicinity on a roll

Media Release

THE small-scale owner-occupier market drove a flurry of activity at Walker Corporation's 100ha Vicinity Industrial Base in the latter half of last year, resulting in three land sales and deposits on two additional lots.

Diverse Industry Group bought a 5000sq m parcel and has started construction of a 2200sq m warehouse for its Autotherm business, to be completed in May.

Private investor Inker purchased a 3100sq m parcel and intends to build two 500sq m, free-standing warehouses - one pre-committed and one for which a tenant is being sought.

Garita bought a 6200sq m parcel and will construct two free-standing buildings to be occupied by two familyowned businesses.

The three parcels all sold for between $90 and $100 per square metre. This followed a council-endorsed campaign launched mid-last year that reduced the minimum lot size in the estate to 3000sq m.

Meanwhile, Cahill Transport has started work on its 8000sq m warehouse and Nick Scali moved into its new warehouse this year.

Title: Vicinity on a roll
Source: The Advertiser
Page: 20
Date: 28-Feb-12

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