11 questions answered by Manager of Retail Tenancies and Interiors in Victoria, Kevin De Almeida.
Frasers Property is developing over $190 million worth of new assets (end asset value) in The Key Industrial Park in the South East and West Park Industrial Estate in Melbourne’s West.Melbourne – 25 July 2017 – In recent months, Frasers Property Australia (Frasers Property) has witnessed unprecedented demand for new warehouses in two of its Melbourne industrial parks. Frasers Property is developing over $190 million worth of new assets (end asset value) in The Key Industrial Park in the South East and West Park Industrial Estate in Melbourne’s West.
Four new tenants have all committed to 10 year leases in new purpose-built facilities in The Key Industrial Park. These are CH2 (21,200sqm), Stanley Black and Decker
(21,722sqm), Silvan (11,948sqm) and Rubies Deerfield (9,030sqm). ARB also purchased a 16,000sqm warehouse in The Key Industrial Park. These deals will create new assets with an end value of approximately $120 million.
West Park Industrial Estate has two new leases Ceva Logistics committed to a new 10 year lease for a 37,177sqm purpose-built warehouse, and National Tiles secured a 14,871sqm building for six years. These transactions will create new assets totalling approximately $70 million (end value).
Frasers Property will develop and build all of the new facilities in both industrial parks.
Anthony Maugeri, General Manager Southern Region for Frasers Property Australia comments, “Our ability to offer clients end to end property solutions, combined with well positioned industrial parks that are easily accessible to Melbourne’s CBD, ports and major transport infrastructure has helped the business secure these significant deals.
“Melbourne’s South East and West continues to attract high-quality tenants looking to benefit from the efficiencies and technologies that we offer in new state-of-the-art logistics centres.”
He added, “Our in-house development expertise enables Frasers Property to respond quickly to changing customer needs and provide a seamless process which helps clients achieve their objectives.”
Stanley Black and Decker is expected to move into its new distribution centre in November 2017 while CH2, Silvan and Rubies Deerfield are likely to occupy their new premises in April 2018. Major groups and logistics providers already residing in The Key Industrial Park include Symbion Health, Rinnai, Trimas, Miele, Adairs, AstralPool, Tyres 4 U, Chrisco, Early Settler, BIC and Dana Automotive.
The Key Industrial Park in Keysborough offers direct access to Eastlink, which provides uninterrupted connectivity to Melbourne’s CBD and key infrastructure including regional and interstate roadways, the airport and local ports.
Ceva Logistics plans to move into its new building in December 2017 and National Tiles late in November 2017. Tenants already residing in West Park Industrial Estate include Austrans (14,636 sqm), Toll Logistics (11,417 sqm) and Maxi Parts (12,531 sqm). The park has attracted a broad range of tenants including Australia Post, Chep, Fastline Logistics, Mitre 10, Queensland Cotton, Goodyear and Dunlop Tyres, Catch of the Day, Kuehne + Nagel, DB Schenker and PFG Australia.
West Park Industrial Estate in Truganina, comprises approximately 320 hectares of industrial land wholly owned and developed by Frasers Property. It is positioned adjacent to the Deer Pass Bypass and provides direct access to the Melbourne CBD and the Port of Melbourne in addition to the Western Freeway, Tullamarine Freeway, Calder Freeway and Western Ring Road.