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News release


National Tiles paves the way in Port Melbourne re-zone

541 Graham Street, Port Melbourne

MELBOURNE, 11 September 2012 – Forming part of the City of Port Phillip re-zone, the home of one of Australia’s leading family owned operations is on the market.

Currently owned and occupied by Frank Walker of National Tiles, 541 Graham Street, Port Melbourne is being offered for sale with either vacant possession or leaseback by Jones Lang LaSalle in conjunction with Vinci Carbone via an expression of interest campaign closing 4pm, Thursday 11 October.
Situated within Victoria’s premier industrial/hi-tech precinct, 3 kilometres south west of the Melbourne CBD, the 1.4 hectare capital city zone 1 development site comprises a 7,500sqm (approximately) warehouse and provides direct access to the Westgate Freeway with links to the Tullamarine Freeway via Citylink and the Monash Freeway.
SJB Planning Associate Kellie Burns said, “The site’s inclusion in the expanded Capital City Zone (Fishermans Bend Urban Renewal Area) sees it being located in an area which will develop over time to become a CBD-scale urban environment.  We can expect the encouragement of mixed-use towers which will provide significant inner-city employment and housing opportunities and will create vibrant ‘vertical’ neighbourhoods.” 
With its prominent frontage to Graham Street and 180 metre exposure to the Bolte Bridge ramp the property boasts an outdoor billboard currently leased to APN Outdoor Pty Ltd, providing additional income of $110,000 pa.
Jones Lang LaSalle Directors, Lincoln Reynolds and Matt Ellis expect the site to reach in excess of $16 million having recently sold sites in the area for over $1,150 per sqm.
“The quality of the location has attracted major national and international corporations and the demand in the area has been recognised by some of our major institutions who hold substantial investments in the Port Melbourne region, ” Mr Reynolds said.
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