Dairy Innovation Australia has sold its Werribee landholdings to a registered training organisation for $4.375 million.
Western Institute of Technology (WIT) chairman and Wyndham councillor Intaj Khan said his company has purchased the 180 Princes Highway property to further develop educational opportunities in the area.
Cr Khan said the purchase was a great opportunity for his company to set up close to the proposed Australian Education City in the East Werribee employment precinct.
Plans for the precinct include a mini-city with apartment blocks up to 50 storeys high, as well as higher education centres and a research and development hub.
“Western Institute of Technology intends to utilise this space for educational purposes in the very near future, bringing great jobs and opportunities for Wyndham residents and Melbourne’s western suburbs,” Mr Khan said.
The 6001 square metre site includes a modern office building and laboratory facilities across its 2088 square metres, with 90 metres of highway frontage and 41 onsite car parks.
Selling agent Julian Heatherich, of Savills, said the property had attracted keen interest from buyers wanting to take advantage of the strong forecast growth for Werribee.
“Werribee, with a forecast population growth of 42 per cent by 2036, is located in one of Australia’s fastest growing non-CBD regions, a region which has been identified as a major commercial focal point for the future development and growth in Melbourne’s west,” Mr Heatherich said. “The property is well placed to take advantage of that growth.”
James Lockwood, of Savills, said the property was subject to a partial lease (31 per cent) at a current net rental of $165,880 per annum.
DIA announced in June that it was winding down its technical consulting operations and selling its headquarters and labs.
The news of its departure comes just four years after the research centre moved into new “purpose built and state-of-the-art facilities”.
