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Two-hectare Moorabbin holding sells after four decades of single ownership

Jess Freeman • 20/08/2025
592-600 South Road Moorabbin 1200.jpg MELBOURNE, 20 August, 2025 – A rare two-hectare industrial landholding in Moorabbin, Melbourne, has had its first change of ownership in over 40 years, following a highly competitive sale campaign. The property was sold by ITW Australia to a developer for an undisclosed sum.

Located in one of the South East’s most coveted industrial areas, 592-600 South Road drew strong interest due to its prime main road position and flexible development potential. The Bayside infill site was marketed as a blank canvas, with the campaign generating widespread enquiry from developers, investors and occupiers.

The sale was managed by Gareth Jackson and Kosta Filinis from Cushman & Wakefield’s Brokerage Logistics and Industrial team, receiving over 150 enquiries during the Expressions of Interest campaign.

Gareth Jackson, Cushman & Wakefield’s Director, Brokerage Logistics & Industrial said the strong campaign response demonstrates increasing demand for flexible industrial opportunities.

“Industrial landholdings of this size and flexibility are increasingly rare in Melbourne’s South East. This asset ticked many boxes — location, versatility, visibility — and the result reflects the depth of demand we’re seeing from buyers looking to capitalise on the area’s ongoing transformation.”

The sale comes as investment in Australia’s logistics and industrial sector continues to outperform with strong rental, vacancy and absorption metrics and steady cross-border capital inflows. The sector recorded $4.3 billion in Q2 2025, marking its strongest quarter since Q4 2021, according to Cushman & Wakefield’s latest Capital Markets Marketbeat report.


Kosta Filinis, Cushman & Wakefield’s Director, Brokerage Logistics & Industrial said it was a privilege to facilitate the property’s first change of ownership in over four decades, on behalf of their valued client.


“Having owned the site for over 40 years, our client was deeply invested in achieving the right outcome. Securing such a strong result not only reflects the strength of the market, but also honours the long history of the ownership.”

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture.  For additional information, visit www.cushmanwakefield.com.

Media Contact

Jess Freeman
Jess Freeman

PR & Communications Director ANZ • Sydney

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