A premium warehouse in Thomastown has been snapped up for $3.8 million, as demand for industrial property continues to rise throughout Melbourne’s north-west.

Savills Industrial's Stephen Newsham brokered the deal for 8-12 Aylward Avenue one week prior to its public auction, saying 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,” he said.

Mr Newsham went on to say that the 4,456sq m property was “packed with potential” and considered to be a multi-functional warehouse.

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