Salta has achieved a major milestone at its Industrial Quarter (iQ) Cranbourne West industrial precinct, announcing the sell-through of Stage 1 and launching Stage 2 release to market this week.

The achievement marks a significant result for Melbourne's industrial sector at a time when market conditions have remained subdued, with Salta generating almost $60 million in gross revenue and selling in excess of 6.4 hectares of industrial land across the first release.

Following the success of Stage 1, Salta has this week released a limited selection of Stage 2 land lots ranging in size from 1,472sqm – 6,408sqm, offering builders, investors and owner occupiers the opportunity to secure a foothold in one of Melbourne's most prime and highly sought after industrial and logistics corridors.

The strong demand on Stage 1 was driven by a broad mix of purchasers, ranging from small businesses through to major industrial operators, manufacturers and builders, attracted by the precinct's generous lot sizes, strategic location and long-term growth prospects. Among the purchasers was Capital V Group, reflecting the calibre of businesses choosing to establish themselves within the precinct.

Director of Commercial & Industrial Development at Salta, Owen Smith, said the Stage 1 sell-through had exceeded expectations and validated the group's long-term vision for the Cranbourne West site.

"From the outset, we set ourselves a clear objective to achieve sell-through of Stage 1 within 12 months and we're incredibly proud to have delivered on that goal," said Smith.

"To achieve this result in the current market environment demonstrates the strength of the iQ Cranbourne West proposition and reinforces the confidence businesses have in Melbourne's South East as a place to invest and grow. As a business, the momentum we've generated through Stage 1 also gives us enormous confidence as we launch Stage 2. We're already seeing strong off-market enquiry from purchasers looking to secure future opportunities within the precinct.”

“We were attracted not only to the location, accessibility and quality of the land offering, but also the certainty that comes from being part of a carefully planned industrial community delivered by Salta”, said Matthew Vaughan from Capital V Group.

Located at 690 Western Port Highway, the release of Stage 2 builds on Salta's long-standing industrial legacy across Melbourne's South East, anchored by its highly regarded Nexus Dandenong South precinct, one of Victoria's most established and sought-after industrial hubs. The success of Nexus has reinforced the region's reputation as a blue-chip industrial destination, providing purchasers at iQ Cranbourne West with confidence in the long-term outlook of the precinct and the stewardship of an experienced developer.

 

 

The broader market fundamentals continue to support this confidence. Melbourne's South East remains the city's tightest industrial market, with vacancy sitting at just 4.6 per cent according to recent JLL research, while industrial land absorption across Melbourne has been almost double that of Sydney over the past five years, highlighting the sustained demand for well-located industrial land.

Appointed sales agent for iQ Cranbourne West, Director of GO Commercial Industrial Real Estate, Andrew O'Connell, said opportunities of this nature were increasingly difficult to find.

"There is simply nothing else like this currently available in the market. To secure a landholding of this quality, in this location and within a masterplanned precinct is incredibly rare,” said O'Connell.

"The response we've seen through Stage 1 has been exceptional. The volume of sales achieved in such a short period is impressive and speaks volumes about where the market sits and the appetite for premium industrial opportunities in Melbourne's South East.

"Stage 2 offers buyers another chance to enter the precinct, and given the limited supply available, we expect strong interest and further sales momentum."

 

Smith added "Salta’s intention is to continue stewarding iQ Cranbourne West so it evolves into a premium, tight-knit industrial and logistics precinct that complements our broader South East industrial portfolio. We look forward to welcoming the next wave of businesses into the iQ precinct, and to continuing to provide long-term value both for businesses today, as well as setting them up for success for decades to come."

Positioned just 450 metres from the Western Port Highway, with direct access to the South Gippsland Freeway, Princes Highway and Monash Freeway, iQ Cranbourne West provides exceptional connectivity to Melbourne's major freight and logistics networks.

Construction of Stage 1 is progressing on schedule and is expected to be completed by the end of 2026, with Stage 2 construction anticipated to commence shortly thereafter in early 2027.