Australian Real Estate News
Stockland has teamed with Mt Atkinson Holdings – led by a consortium of Melbourne businessmen – to create a $2 billion commercial park, set to be the largest industrial project in that city’s west. It is hoped the 260 hectare site, 25 kilometres from the CBD, in Truganina, will also become the city’s largest and
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Charter Hall and ID_land have sold the 2.2 hectare site set to way for the Truganina Central Shopping Centre, part of the Elements housing estate which they are co-developing in Melbourne’s mid-west. A local investor has picked up the permit-ready block for $9.6 million. The land is earmarked to become a 7390 square metre retail
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Transform Church has paid $1.67 million for an office/warehouse (pictured, top) at Truganina’s Agar Estate, about 22 kilometres west of the Melbourne CBD. Agar, beside the Western Freeway, is under construction. Nine buildings forming the estate, ranging in size between 1050 square metres and 2575 sqm, sold off-the-plan three months prior to the anticipated project
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EXCLUSIVE Another mixed-use development opportunity within the heart of a burgeoning new Melbourne pocket is for sale with residential builder ID_Land offering the 2.2 hectare site master-planned to make way for the Truganina Central Shopping Centre. The retail and commercial asset (artist’s impression, top) will contain 7390 square metres of lettable area. CBRE marketing agents
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Time and Place Commercial has acquired another major industrial development site, this time in Truganina, about 22 kilometres west of the Melbourne CBD. The diversified builder and investor is paying an as yet undisclosed sum for the 16.7 hectare block at 151 Leakes Road. The vendor, Incore Developments, was represented by JLL’s Danielle Tadi, Matt
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CitiWest Homes has sold an office/warehouse in Truganina, in Melbourne’s west, for $1.775 million. The investment is tenanted to Breakaway Group Pty Ltd which pays annual rent of $113,320. On that basis, the property at 94 Agar Drive is trading on a passing yield of 6.4 per cent. CBRE’s Tim Homes and Tom Murphy represented
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RECEIVERS for the owners of a versatile 555-hectare Truganina property, the largest asset measured by area to hit the market last year, are selling down the property in smaller chunks.
After failing to sell for a total $100 million in separate campaigns in 2010, and 2011, four industrial development sites, each measuring about 42 hectares are now for sale, in a campaign being managed by Biggin Scott Commercial’s Andrew Egan and Frank Nagle.
Accessed via Hopkins Road, the blocks are expected to sell for about $3 million each.
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A NEW Melbourne suburb, 19 kilometres south-west of town, has been unveiled.
Truganina South will be developed on a 250 hectare block of land near Hoppers Crossing and in the council area of Wyndham which was recently identified as the country’s fastest growing.
Planning minister Matthew Guy (pictured, right) launched the suburb bound by Leakes, Palmers and Sayers roads, and, traveling west, farmland on the way to Derrimut Road.
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THE timing of last week’s Urban Growth Boundary changes couldn’t have come at a better time for the syndicate of investors selling Melbourne’s biggest development site, measured by area.
The massive 555 hectare site at Truganina, in Melbourne’s west, is expected to sell for $100 million – after failing to sell for about that amount two years ago, at the start of the economic downturn, and before the site’s zoning future was confirmed.
“Under the rezoning the site will be a keystone property for the future development of Melbourne,” said CB Richard Ellis director Walter Occhiuto, who is selling the site with Tom Hayes, said.
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THE timing of last week’s Urban Growth Boundary changes couldn’t have come at a better time for the syndicate of investors selling Melbourne’s biggest development site, measured by area.
The massive 555 hectare site at Truganina, in Melbourne’s west, is expected to sell for $100 million – after failing to sell for about that amount two years ago, at the start of the economic downturn, and before the site’s zoning future was confirmed.
“Under the rezoning the site will be a keystone property for the future development of Melbourne,” said CB Richard Ellis director Walter Occhiuto, who is selling the site with Tom Hayes, said.
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MELBOURNE’s biggest residential development site, measured by area, was quietly relisted for sale this week.
After failing to sell last year, the private families that control a 555 hectare block of land at 65 – 453 Hopkins Street, in Truganina, are trying their luck in a more buoyant market.
The land is near the new Western Freeway extension (known during construction as the Deer Park Bypass), which opened last year, and marries into the Western Highway at the suburb border of Caroline Springs, Ravenhall and Rockbank.
Read moreListed property group Becton is believed to have offloaded a residential development site in Truganina, some 20 kilometres west of Melbourne.
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Industry Superannuation Property Trust has pre-committed Sydney-based retailer Winning Group – which owns popular website appliancesonline.com.au – to what will be a purpose-built warehouse and distribution centre, in Melbourne’s west. Winning Group intends to move into the 45,000 square metre Altona North facility in 2021. It’s initial lease term is 10 years. The development will
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EXCLUSIVE In a surprise and strategic move, Charter Hall Group and Coles have extended tenancy terms for major distribution centres in Adelaide and Perth. The 15-year deals, which kick in on January 1, 2020, will see the leases for both properties expire at the same time, in December, 2034. Coles’ rental agreement at Adelaide was
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Online shopping giant Klika has leased a corporate head office, national distribution centre and customer pick-up centre, in Braeside. The deal, for 17,922 square metres at 41-51 Mills Road, is the largest rental agreement struck for an existing industrial facility in Melbourne’s south east this year The property contains about 1200 sqm of refurbished office
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More than 560,000 square metres of speculatively built industrial property is set to be completed on Australia’s east coast this year. That number smashes the record set last year when developers built 422,000 sqm of warehouses prior to tenant pre-commitment in Sydney, Melbourne and Brisbane. Melbourne’s western suburbs are expected to see the most upcoming
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Dexus has secured three major tenants at is Foundation industrial estate in Truganina, west of Melbourne. Dunlop Flooring has leased a 9100 square metre property under construction at 380 Dohertys Road, which it will occupy as its headquarters and national distribution centre. This building will also contain a showroom. Supermarket giant Coles meanwhile, will occupy
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General Pants Co has committed to a seven year lease at Melbourne’s Drystone Industrial Estate, a 90 hectare logistics-focused business park being developed by Charter Hall and Commercial and Investment Property (CIP). The international fashion retailer will occupy 5767 square metres at the Truganina estate following a deal negotiated by Colliers International’s Hugh Gilbert. “This
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Logistics focussed property giant LOGOS has snapped up another major investment in Melbourne’s west. Following an off-market deal with the vendor, Goodman, LOGOS has entered into a heads of agreement to acquire a 48,770 square metre warehouse under construction within Truganina’s ConnectWest Industrial Estate. Upon completion within 12 months, the property, 30 Logistics Drive, will
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HB Commerce, a subsidiary of Netherlands-based online retailer, Vida XL, has committed to two warehouses at Maker Place – an industrial park Frasers Property Australia acquired mid-construction last August. HB Commerce has signed on for the Truganina property for three years. Its move will double the occupier’s warehouse footprint in Melbourne’s west: last May, HB
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