42-46 Cochranes RoadMoorabbin VIC 3189
Property Details for 42-46 Cochranes Rd, Moorabbin
Last Listing description (November 2023)
*** UNDER DUE DILIGENCE ***
Vinci Carbone is pleased to be able to offer the opportunity to secure an asset type that is very rarely offered to the general market. Self-storage facilities are highly sought after assets but they seldom become available for sale. This is definitely a unique opportunity in the truest sense.
The property is being offered for sale either as is with permits in place for further expansion OR as a completed development.
Key highlights:
Impressive standalone self-storage facility of 7,394 sqm* comprising a warehouse building with three (3) warehouse compartments and a two-level office building. Two of the warehouse compartments have been converted to a two-level state-of-the-art self-storage facility comprising 293 units*.
Permit in place to convert the third compartment to self-storage units resulting in a total of 467 units and to develop the rear land into a two-level self-storage facility which will result in a total of 639 units. There is also potential (STCA) to carry out a four-level development rather than a two-level development on the secondary storage area.
7,278 sqm* of Industrial 1 zoned land with over 48 metre frontage to Cochranes Road.
Currently configured for 100 parking spaces and/or containers, the completed development is designed with 34 car spaces and/or external storage with additional street parking available.
Moorabbin is a very well established area with encompassing both industrial and residential land use, surrounded by suburbs with a large number of residents.
Prominent position as the property forms part of an established industrial hub which is occupied by a number of well-known manufacturing and industrial users.
Rare opportunity for owner occupiers, investors and developers to acquire a standalone self-storage facility in a premium location.
Potential annual revenue from 293 existing units on fully let basis $1,264,668 (plus rent of $353,281 per annum* from existing office and warehouse tenants).
For Sale by Expressions of Interest closing Thursday 26 October 2023 at 4pm
*approx.
Property History for 42-46 Cochranes Rd, Moorabbin, VIC 3189
- 14 Sep 2023Listed for Sale Contact Agent
- 18 Mar 2022Listed for Rent $3,000 / year
- 05 Jul 2021Sold for $5,300,000
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0About Moorabbin 3189
The size of Moorabbin is approximately 4.6 square kilometres. It has 5 parks covering nearly 4.2% of total area. The population of Moorabbin in 2016 was 5895 people. By 2021 the population was 6287 showing a population growth of 6.6% in the area during that time. The predominant age group in Moorabbin is 30-39 years. Households in Moorabbin are primarily couples with children and are likely to be repaying $3000 - $3999 per month on mortgage repayments. In general, people in Moorabbin work in a professional occupation.In 2021, 68.00% of the homes in Moorabbin were owner-occupied compared with 68.80% in 2016.
Moorabbin has 5,618 properties. Over the last 5 years, Houses in Moorabbin have seen a 20.70% increase in median value, while Units have seen a 20.50% increase. As at 31 December 2025:
- The median value for Houses in Moorabbin is $1,349,014 while the median value for Units is $801,930.
- Houses have a median rent of $695 while Units have a median rent of $595.
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