Visy Australia has signed a 20-year lease for a new $46 million purpose built cardboard manufacturing and distribution centre
MELBOURNE, 24 JULY 2018Paper giant Visy Australia has signed a 20-year lease with Frasers Property Australia (Frasers Property) for a new $46 million purpose built cardboard manufacturing and distribution centre, situated in West Park Industrial Estate in Melbourne’s western suburb of Truganina.
The state-of-the-art facility will sit on 7.843 hectares of land located at 27 Doriemus Drive, Truganina. The facility will be approximately 42,770 sqm and includes a 1,025 sqm office and 124 car spaces.
The facility is now under construction by Frasers Property’s in-house construction division, and is being developed in two stages. Stage 1 is expected to be completed by September 2018, while Stage 2’s completion date is December 2018.
Anthony Maugeri, General Manager Northern Region of Frasers Property Australia’s Commercial and Industrial division said, “We are delighted to secure Visy Australia, one of the country’s most successful manufacturing businesses, in West Park Industrial Estate. The well-located industrial park boasts excellent access to the Western Ring Road, Deer Park Bypass and Melbourne’s ports and airport.
’Visy Australia will join several significant groups in the estate including Ceva Logistics, Toll, DB Schenker and National Tiles.
“An end-to-end solution will be provided to ensure the design and layout meets Visy Australia’s requirements to provide a highly sustainable and energy efficient manufacturing and distribution facility.
“This recent commitment shows renewed strength in Melbourne’s manufacturing market which we expect to continue well into 2019.
“This asset will be held within Frasers Property Australia’s investment property portfolio,” added Mr Maugeri.
The transaction was brokered by Ben Fahey from Frasers Property, Stuart Duncan from Visy and Michael Green from Cushman Wakefield.