Leather carer to develop distribution centre

Waproo has paid $4.88 million for 2 Delivery Drive.

Shoe and leather care product maker Waproo will develop a distribution centre on a Truganina site it just acquired for $4.88 million.

Conrock recently purchased the National Drive site (outlined) next to Waproo.

The 4880 square metre parcel at 2 Delivery Drive, on the south west corner of National Drive, part of Goodman’s Connectwest estate, was offloaded by Andecon Developments, which paid $3.22m in mid-2021.

The 78 year old business intends to move in by October.

It will relocate from Dandenong South.

Neighbourhood filling up

With 140 metres of street frontage, 2 Delivery Dve is opposite distribution centres occupied by The Reject Shop and Target.

Amart Furniture, Coles, DHL, Fenhurst, Kmart, Lineage Logistics, PrixCar Services, Rand Logistics, StarTrack and Woolworths are also in the area.

Andecon offered it permit-ready for a dual warehouse complex (story continues below).

“The [Waproo] property provides a rare opportunity to develop and occupy in a sought after location with a backlog of local demand,” CBRE’s Fergus Pragnell, who marketed the land with Blake Grewar, Ricardo Cappelletti and Lachlan May, said.

“Despite global macro-economic headwinds, owner-occupier demand is still strong for industrial property,” he added.

Four months ago, construction company Conrock outlaid $5.6m for a 7232 sqm site at 40 National Dve – next door to the Waproo block.

Also last October, Success Logistics spent $13.5m on a 5061 sqm office/warehouse spreading nearly a hectare site at 2B Dunmore Dve.

Aliro, Charter Hall, Dexus, ESR, Frasers Property Industrial, GPT, LOGOS and Stockland are amongst the country’s biggest property players holding land in the suburb.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.