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THE Molendinar industrial precinct is well and truly booming, with a large freehold property selling well above market expectations.
The vacant property was sold for $2 million to Camcorp Enterprises.
Pat Cavanagh from Colliers International says this indicates a strong demand for vacant industrial properties in the Molendinar area.
"There were a number of buyers looking at this property with most discounting it due to the higher price bracket, however within three months we sourced a buyer willing to pay this price, which shows the market confidence is growing," says Cavanagh.
"Camcorp Enterprises was attracted to the position and location, size and freehold nature of the site with good access and exposure being key reasons for purchase."
Cavanagh also says that the remainder of the year remains positive with strong interest in industrial property coming from buyer groups and advises now is the perfect time to sell.
"Owners should be cashing in on these significantly improved conditions as they buyers appetite continues to increase," says Cavanagh.
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