Commercial and residential property news
GPT Group has paid $34 million for a farm in Melbourne’s west, with plans for a state-of-the-art industrial estate. The deal for the 32.7 hectare site, 865 Boundary Road, Truganina, was brokered by Lemon Baxter’s Craig Rowe and Paul Sullivan. The landlord will soon launch a marketing campaign to find tenants for the proposed business
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Bridgestone has pre-leased a 25,000 square metre warehouse at Charter Hall’s Midwest Logistics Hub in Melbourne’s Truganina. The commitment is the fourth at the master-planned business park since last October. Charter Hall only acquired the 60 hectares making way for it in 2018. The Sydney based investor and developer has been assisted in the leasing
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GPT Group has struck two major industrial lease deals for its Gateway Logistics Hub in Melbourne’s west Truganina. In the biggest, Godfrey Hirst – Australia’s largest manufacturer and exporter of residential and commercial carpets – has taken 14,406 square metres for an initial seven year term. The space, known as Warehouse 1, fills just over
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Aliro Group has secured Quatius Logistics to occupy half of a major warehouse it is developing on a speculative basis in Melbourne’s Truganina. Quatius has rented an 8746 square metre space – known as Warehouse A, 45 National Drive – within Goodman’s Connect West Industrial Estate. The lease is for an initial seven year term.
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Uniqlo, which started trading in Australia in 2014, has pre-committed to a 46,000 square metre distribution centre at Truganina, in Melbourne’s west. The $28 billion fashion empire has signed a 10 year lease for the facility to be developed by early 2021, and retained by Charter Hall Prime Industrial Fund (CPIF). The investment is earmarked
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A Truganina industrial investment developed in 2010 by Vaughan for Hyster, which was last year bought by Adaptalift Group, has sold for $5.6 million. The forklift hire company has outgrown the 4347 square metre facility on a 9543 sqm parcel at 42-44 Jessica Way, 22 kilometres west of Melbourne. Following a private sale campaign managed
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Frasers Property Industrial has found a tenant to occupy the last piece of land at its 310 hectare West Park Industrial Estate in Melbourne’s western Truganina. CEVA Logistics, which already occupies 238,670 square metres of industrial stock at the park (including a landmark 166,000 sqm, $80 million warehouse), has signed a six year lease for
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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 $28.6 million for the 16.7 hectare block at 151 Leakes Road. The vendor, Incore Developments, was represented by JLL’s Danielle Tadi, Matt Ellis and 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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A New Zealand investor has spent $7.1 million on a modern west Melbourne industrial property following video walk-through inspections. The fully leased asset at 33-39 Jessica Way, Truganina, is trading on a 5.75 per cent net passing yield. It includes an office and dry blending and milk powder factory, constructed in 2008 and expanded in
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