Frasers Property Industrial has signed up Mazda Australia to be the first occupier at its 4Ten Epping industrial estate, in Melbourne’s north.
Mazda has pre-committed to a 37,235 square metre facility which will be occupied as its national parts and distribution centre.
Due for completion in December the property will include 960 sqm of office space and 140 car parks.
The car maker’s initial lease term, to commence in 2021, is for 10 years.
FPI is developing 4Ten Epping on a 63.4 hectare site at 410 Cooper Street acquired in November, 2018, for $40 million from CostaFox.
It is the second recent Victorian lease deal between the pair: in 2016, Mazda relocated its headquarters to a modern Mulgrave facility owned by a Frasers company.
Mazda Australia’s national parts and distribution centre, at Epping
Mazda Australia will relocate to 4Ten Epping from a 25,199 sqm facility at 880 Cooper Street, Somerton.
Its incoming facility will include a seven tonne post loading area, six roller shutters, six recessed loading docks, two 36 metre wide drive through awnings and full drive-around access.
The warehouse will have a spring height of 10 metres.
Vinesh Bhindi, Mazda Australia’s managing director said the Epping investment “reflected Mazda’s commitment to Australia and providing the ultimate customer experience”.
“This new…distribution centre will allow our staff to continue to deliver industry-leading customer service through the timely and accurate distribution of vehicle parts in a safe, purpose-built environment.”
William Kerr and Peter Kerr from Kerr Group were the leasing agents.
FPI will simultaneously develop three spec buildings near Mazda
As well as announcing the Mazda Australia pre-commitment today, FPI said it would simultaneously develop three speculative buildings at 4Ten Epping.
All up these properties will occupy a land area of 3.9 hectares.
Upon completion they are expected to have a total end value of about $50 million.
FPI may then decide to sell offer the properties for sale, or retain them as investments.
The expected completed end value of 4Ten Epping is A$306.5 million.
Upon completion, 4Ten Epping is estimated to have an end value of A$306.5 million and accommodate up to 25,000 sqm of built form.
Earmarked for part of its 410 Cooper Street site, FPI’s industrial estate will sit between two diamond interchanges – at Hume Freeway and Cooper Street.
It will also have frontage to O’Herns Road which is currently being upgraded.
The North East Link, a proposal earmarked for construction between 2020 and 2027, is also going to make accessing the business park easier.
Epping is about 20 kilometres from the city.
The 410 Epping site is near Melbourne’s Wholesale Fruit and Vegetable Market.
Local industrial property occupiers include Bluestar Global Logistics, Chemist Warehouse, Coles, Linfox, Manfreight, Mission Foods, Visy Australia and Toll Group.