A warehouse has been snapped up for $3.8 million as the demand for prime warehouses continues to rise throughout Melbourne’s industrial hubs.

Savills Industrial's Stephen Newsham brokered the deal one week prior to public auction and said significant interest was generated throughout the course of the campaign.

“The limited stock in both the size range and precinct ensured strong enquiry from qualified parties, many of whom are having difficulty locating a property to purchase,” Mr Newsham said.

The site located at 8-12 Aylward Avenue, Thomastown is packed with potential and is noted as a multi-functional warehouse.

“The warehouse showcases a generous hardstand facility with multiple parking options available to suit cars, trucks, truck storage and offers convenient access into the warehouse,” Mr Newsham said.