A vacant industrial land parcel in Tullamarine has sold at a successful auction for $1.4 million.
Fitzroys’ Brent Glassford and Marco Sandrin sold 7 Dib Court at a hotly-contested auction that generated competition between three bidders and pushed the price well past the vendor’s reserve.
Zoned Industrial 1, the site is strategically located in Melbourne’s industrial north-west with excellent access to Melbourne Airport, Port of Melbourne, and major road arterial networks including Tullamarine Freeway and M80 Ring Road.
“Industrial land availability across Melbourne is at historic lows, and strategically located sites are all the more highly sought-after. Owner-occupiers and developers showed huge interest in this property,” Glassford said.
Sandrin said the auction process was well-received, with strong bidding from multiple parties.
“The auction process in the this instance was ideal in generating competition in a transparent manner that resulted in a fantastic result for the vendor.”