The former Spotswood quarantine station has been sold for $14 million to Cadence Property in one of a number of strategic acquisitions during the COVID-19 pandemic.
The 37,950 square metre site opposite Scienceworks has industrial 1 zoning and had been owned by a private syndicate since the 1990s.
It was leased to Commonwealth Animal Quarantine operated by Australian Quarantine and Inspection Service, which relocated operations to Mickleham in 2019.
The quarantine station had operated since the 1950s, and was used to house about 1100 dogs, 650 cats and 500 birds a year when they first arrived from overseas.
Selling agent, managing director of Bosisto Commercial Real Estate, Glyn Bosisto said Spotswood and surrounds had seen numerous sales during the COVID-19 pandemic.
“The Spotswood, Yarraville and Newport region has attracted over $100 million of new investment in the last 12 months,” he said.
“The old industrial precincts along the Maribyrnong River between Footscray and Newport are emerging as the new Port Melbourne.
“This new investment is largely driven by the lack of industrially zoned land available close to the CBD and the improved access to be provided by the West Gate Tunnel when completed in 2023.”
Mr Bosisto said the quarantine site was sold with a current town planning permit for 78 office warehouses
“Cadence Property is a business run by Charlie Buxton and he’s associated with the Buxton family who are probably one of the largest private development families in Victoria,” he said.
“They’ve been making some very large strategic acquisitions over this COVID period since the start of the year.”
Cadence Property recently bought a Harvey Norman-anchored 22,000 square metre shopping centre in Sunshine North, City West Plaza, for $39 million.
Mr Buxton said he could not provide details on plans for the Spotswood site.
“We don’t really have any plans for it at this stage so I can’t really provide any detail at this stage, unfortunately,” he said.