Stonebridge Property Group has sold a 3,424 sqm* landholding in the south-east suburb of Officer, on the corner of Bridge Rd and Cardinia Rd. Acting on behalf of Development Victoria, the Victorian Government’s property developer, 1 Niki Place sold for $2,825,000 with a short settlement period of two-and-a-half months.

The campaign generated 101 enquiries and several offers from both local and Asian developers, indicating a highly competitive campaign. The eventual purchaser was a childcare developer.

The sale was delivered by Stonebridge Property Group’s Julian White, Dylan Kilner, and Chao Zhang.

The property was offered for sale with a two-year leaseback to Development Victoria, which has several projects underway in Officer including the development of a new townhouse estate – Olio - and a future town centre.

Stonebridge was able to drive strong interest in the site by promoting its flexible zoning, proximity to new homes and retail offerings, and exposure to 18,000 cars daily.

The sale outcome was an exceptional result for the vendor and reflected a land rate of $825psm - the highest land rate sale Stonebridge has recorded in Officer to date.

This is the sixth recent development site sold by Stonebridge in Officer, building on the group’s in-depth understanding of the local market and extensive track record.

Stonebrige foresees that demand for sites in the Officer precinct will continue to be strong in the coming months, with growing interest from residential, fast food, childcare, and Asian- based developers.

To request a sales analysis please contact the selling agents, Stonebridge Property Group’s Julian White, Dylan Kilner, and Chao Zhang. via the below contact details. 

Click here to read article on Retalk Asia:  Life sciences real estate reaches 100 million sq. ft. with major hubs like Shanghai, Beijing, Tokyo, Singapore, and Melbourne; US$18 billion of funds has been raised to invest in life sciences real estate.

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