Mapletree sells ex-Bridgestone HQ
Singapore-listed Mapletree Logistics Trust has sold a major west Melbourne warehouse – nearly 10 years after buying it from Growthpoint.
The Derrimut property, 365 Fitzgerald Road, traded off-market.
It had just been listed for lease.
The asset collected $28 million from an as yet unidentified third party.
The result is 3.7 per cent higher than the March 31, 2026, valuation.
Mapletree cashes out
On 2.98 hectares, the Derrimut property contains a 16,114 square metre facility with warehousing and a truck servicing workshop.
The office spans 1174 sqm (continues below).
The shed is accessed via 24 on-grade roller doors and eight recessed loading docks.
Mapletree paid $18m as part of a four-property portfolio of Victorian industrial investments worth $142.2m.
It was then occupied by Bridgestone Australia as a distribution centre and state headquarters (that group is now based locally at William Angliss Drive, Laverton North)
Sale proceeds will be tipped into higher-specification logistics facilities, a Mapletree statement said.
Settlement is scheduled this month.
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