A prime industrial property in Clayton has changed hands for $9 million following a competitive on-market Expressions of Interest campaign.

Located at 38 Sarton Road, the 7,500 sqm site attracted strong interest from a diverse pool of developers, investors, and owner-occupiers, highlighting the continued strength of Melbourne's southeast industrial market.

CBRE's Alex Grima, David Aiello, and Sasan Misaghian led the campaign and facilitated the transaction.

Mr Aiello noted the successful purchaser, a private developer, plans to lease the site in the medium term before undertaking a full redevelopment.

“In a move that adds immediate income stability, the vendor has leased back half the site, providing the buyer with a secure revenue stream while planning its future development. The vendor's willingness to do this added a layer of appeal to this asset,” he added.

The transaction achieved a land rate of over $1,200 per sqm, reflecting the strategic value of the property in one of Melbourne's most tightly held industrial precincts.

“Our team's deep relationships across the southeastern corridor were instrumental in ensuring the property reached the right buyers,” added Mr Grima.

The sale reinforces the resilience of Melbourne's industrial sector, where strategic landholdings continue to attract strong demand from developers and investors seeking long-term growth opportunities. CBRE expects continued momentum in the region as infrastructure upgrades and population growth drive further interest in industrial assets.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, digital infrastructure services); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.