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News release


Major Industrial Sale in Melbourne's South East

342 Hammond Road, Dandenong

MELBOURNE, 15 MAY 2013 – The former home of the Castricum Brothers abattoir at 342 Hammond Road, Dandenong has been sold to AAD Recycling Services for an undisclosed amount.

Kosta Filinis and Andrew O’Connell of Jones Lang LaSalle Industrial services negotiated the sale of the high profile site located approximately 36 kilometres south-east of the CBD in close proximity to the Greens Road and Eastlink Tollway interchange.

Managing Director Gary Castricum said “that the sale was a great outcome for the Castricum family.” Castricum will continue to operate its Shop and Food Service business from the site under a lease agreement with the new owners.

The 6.88ha property comprises multiple buildings totalling approximately 11,985sqm and includes food processing areas, cold storage, chillers and an additional workshop.

Mr Filinis said “major Industrial 2 Zoned parcels are becoming well sought, therefore the property received strong interest from owner occupiers looking to land bank a site such as this”.

“This is a major sale for the South East and this strong result highlights that owner occupiers are taking advantage of the decreasing cost of funds, which can currently be sourced at an all-time low”.
“Demand from owner occupiers is on the increase and this is a trend we will see continue throughout the remainder of 2013” Mr Filinis said.