Sector Property Group Releases 10 Commercial Lots in Altona Business Park

Commercial property in Altona is drawing strong investor and tenant interest, with multiple new projects and transactions reshaping the industrial landscape west of Melbourne. Sector Property Group has released 10 commercial lots at Altona Business Park on Kororoit Creek Road, located 12 kilometres west of the Melbourne CBD, for expression of interest. The lots range from 1,402 square metres to 1,875 square metres, offering options for businesses seeking warehouse or distribution space in a tightly held market.

Major transactions signal confidence

The activity extends across several fronts. A private investor recently acquired an 11,576-square-metre distribution facility at 48-54 Burns Road in Altona for $14.6 million. The property is fully leased to Portwest Pacific on a five-year term, reflecting the ongoing demand for modern logistics space in the area. Fitzroys, the agency that handled the sale, reported that the deal underscored strong investor appetite for well-located industrial assets with secure income streams.

At the larger end of the market, ASX-listed Stockland secured two new tenants for its Altona Industrial Estate on Slough Road. MotorCycle Holdings has taken 7,924 square metres, while Comcater occupies 6,643 square metres. One tenancy of approximately 8,000 square metres remains available. The estate, near the Kororoit Creek corridor, continues to attract occupiers seeking purpose-built facilities close to transport links.

A shifting investor landscape

Not all activity is straightforward acquisition. Stockland is selling a portfolio of near-new industrial warehouses in neighbouring Altona North that are leased to Toll Holdings. The sale price is approximately $50 million, representing a 14 per cent loss from Stockland's purchase price just two years prior. The sale highlights how quickly market conditions can shift, even for modern, well-tenanted assets.

On the REIT front, ESR-LOGOS REIT has divested its logistics facility at 182-198 Maidstone Street, Altona, for A$65.5 million ($58 million). That transaction achieved a 7.4 per cent premium over the property's valuation, indicating that some assets are still commanding prices above book value despite broader market uncertainty.

The recent flurry of activity underscores Altona's position as a key industrial and logistics hub, with its proximity to the West Gate Freeway, Port of Melbourne, and Avalon Airport making it attractive for both occupiers and investors. The release of fresh lots at Altona Business Park offers businesses an opportunity to secure land in a market where vacancy rates have tightened and demand for modern, efficient space continues to grow.

For developers and occupiers, the outlook remains cautiously optimistic. The area's established industrial base, combined with new supply coming to market, suggests that Altona will remain a focal point for commercial property activity in the months ahead.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.