Goodman snares Pacific HVAC Engineering for spec-built asset at Moorabbin Airport

Goodman has signed Pacific HVAC Engineering as tenant for an office-warehouse it is building speculatively at Moorabbin Airport.

The occupier has committed to 7200 square metres at 4 Duigan Drive, within the Chifley Business Park, for a 10-year term.

It will relocate from Chelsea.

Cushman & Wakefield manager Jordie Cassidy represented Goodman.

Mr Cassidy said the Moorabbin Airport building is due for practical completion in 2020.

Stillwell Motor Group has committed to space within the Chifley Business Park.

The agent wouldn’t comment about the price Pacific HVAC Engineering is paying – which is speculated to be about $95 per sqm, per annum.

In the immediate vicinity, Goodman is constructing new buildings at 9 and 11 Duigan Street.

Goodman is landlord to several other industrial occupiers at Moorabbin Airport including Spectrum Brands, VISY and the Stillwell Motor Group.

Last August, Hella announced it would lease an 8000 sqm complex within the Chifley Business Park.

Coincidentally, Hella subsequently sold Goodman its 57-year old former owner-occupied premises – a 6.25 hectare block at 54 Southern Road, Mentone – for a speculated price of between $20 million and $25 million.

DFO and Kingston Central Plaza are amongst the retail buildings established at the 294-hectare airport site, which Goodman controls on a long-lease with the federal government.

Moorabbin Airport is about 20 kilometres south-east of the Melbourne CBD. It shouldn’t be confused with Moorabbin, which is about 14 kilometres from the city.

Last week Frasers Property Australia leased 10,646 sqm of a 19,886 sqm warehouse it is building on a speculative basis, in Braeside, to textiles group Gale Pacific Limited.

Braeside is the next suburb south-east of Moorabbin Airport.

Marc Pallisco

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

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