General Pants Co signs seven year lease at Drystone Industrial Estate

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 is a significant outcome after Colliers International pre-committed Victorian Freight Specialists to the site originally which allowed Charter Hall to spec the additional space which we ultimately leased ahead of practical completion to General Pants,” the broker said.

An aerial image of the estate taking shape in Truganina, about 22 kilometres west of the Melbourne CBD.

Other Drystone Industrial Estate occupiers include Woolworths, The Reject Shop, Target, Rand, Laverton Cold Storage and Couriers Please.

Charter Hall and CIP have actively been seeking tenants to pre-lease buildings measuring between 5000 sqm to 50,000 sqm.

Last month we reported that Frasers Property Australia secured Vida XL subsidiary HB Commerce as a tenant within the Maker Place industrial park which is under construction in the suburb.

We also reported that LOGOS was paying Goodman a speculated price of more than $65 million for a warehouse under construction at 30 Logistics Drive, Truganina. Leased to Amart Furniture, the 48,770 sqm complex is due for completion next year.

This land sale comes 11 months after LOGOS paid the Adrianakos family $28.5 million for a 27.5 hectare industrial development site in the area.

A Colliers International image showing Drystone Industrial Estate’s occupants.

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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