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Lloyd Williams sells Braeside industrial site

Racing and property identity Lloyd Williams’ company Hudson Conway has sold a parcel of industrial land to Singapore-listed Frasers Property for about $19 million.

A Hudson Conway subsidiary Saltview Pty Ltd offloaded the prime 23 hectare site in Braeside on Governor Road to Frasers Property which expects to launch an industrial park on the land later this year.

Frasers’ southern region general manager Anthony Maugeri said the acquisition was a “natural extension of our 116 hectare The Key Industrial Park in Keysborough which is fast approaching completion.”

The new Braeside park’s masterplan would include a mix of land sales, A-grade buildings for lease and turnkey buildings for owner-occupiers, he said.

Savills Australia’s Lynton Williams brokered the deal.

Mr Williams said subdivided land in the Dandenong area was virtually sold out.

“Land is very scarce. Everybody’s looking for land and its in short supply in the south-east,” he said.

The Governor Road property is located near the proposed Mordialloc bypass on which construction is expected to start next year.

Frasers recently installed 4WD specialists ARB in a 16,000 square metre warehouse in The Key Industrial park in a $19.4 million deal. The park has also seen Stanley Black & Decker, CH2, Silvan and Rubies Deerfield recently sign 10-year leases.