EastLink Towers: retail real estate in Dandenong South on the market
Blink and you could miss them cruising on the EastLink at 100km/h, but these towers are a major boost for Dandenong South.
South East
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Office space is for sale in two unique buildings with front row seats to traffic cruising along busy EastLink
The towers — known as Metropolitan and Peninsula — are part of the Dandenong South industrial park, and are already home to healthcare company Bolton Clarke and Fire Services Victoria.
Stonebridge Real Estate has listed multiple office and retail spaces with prices ranging from
$539,000 to $2.9m.
Lead agent Dylan Kilner said the “demand for the office suites had been strongest among owner-occupiers of a professional services nature — law firms, accounting firms and financial planners”.
“Businesses obviously need spaces, and a lot of people are now finding it more cost effective to own the premises rather than pay rent,” he said.
“In the first five weeks of the sales campaign, we have had 71 buyer inquiries with the majority from local businesses looking to own v rent.”
Mr Kilner said the spaces have been yielding their expected results so far.
“Everything we’ve sold has been at or above the asking price and we expect that to continue going forward,” he said.
Mr Kilner said interest had been healthy, and expected the towers to be bought out within the next six months.
“A project like this is a bit different to a stand-alone location,” he said.
“It is a pretty ambitious development, because there are not many strata office projects like this being built, so for the developer to pull this off and sell relatively well over the first six to 12 months is a really big achievement for the area and the project.”
Mr Kilner said the project has been professionally recognised in the development community, recently being a top four finalist for the Property Council Academy Award for Best Business or Industrial Park in Australia.
Just 650m away from EastLink, the towers are in a prime position, stationed between access to Melbourne’s CBD and the heart of the southeastern suburbs.
“A lot of businesses are continuing to work partly from home. As a result, suburban office developments like this become increasingly attractive, given the proximity to the Mornington Peninsula and Melbourne’s eastern suburbs,” Mr Kilner said.
gemma.scerri@news.com.au
