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Pellicano sells last lot at Innovation Park

Financial Review
22nd March 2018

Diversifies property group Pellicano has sold the final lot at its 74-hectare masterplanned Innovation Park estate in Dandenong South in Melbourne for 72 percent more than comparable lots in 2012. With the transaction price stuck at $290 per square metre for the 14,940sqm site, the final sale totaled more than $4.3 million. The business park is in Melbourne’s south-east. It has triple main-road frontage and is close to major transport links. Over the past six years and across four stages, 61 lots have been sold at Innovation Park for more than $68 million in total by Pellicano and its joint venture partner ISPT. “The 72 percent increase between the approximate price per square metre in 2012 and 2017 is demonstrative of the growing demand for industrial lots in Victoria,”said managing director Renato Pellicano. “In particular, the appetite for industrial land in the south east has consistently Dryden prices up.”



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