Qualitas will spend more than $50 million co-developing Ford’s ex-Campbellfield factory as a mixed-use commercial investment with retail, essential services and a 100-room hotel.
The 50:50 partnership is with Pelligra Group, which agreed to buy the 60 hectare property from the car marker in 2019 and settled last week.
The project will see about 120,000 square metres of existing buildings retrofit as warehouses.
New industrial and office product is also anticipated.
The partnership announcement comes a day after Pelligra confirmed it purchased a campus style Adelaide CBD office.
The former Ford factory at 1727 Sydney Road is being rebranded Assembly Broadmeadows (story continues below).
It is master planned with a convenience retail precinct, construction of which will start soon.
An office zone will abut the Upfield train station.
The guesthouse is expected to contain about 100 suites.
Upon completion, about 305,000 square metres of industrial and large format product is earmarked.
Campbellfield is about 16 kilometres north of Melbourne.
Pelligra and Qualitas – the latter which will hold its stake in the Real Estate Opportunity Fund 2 (QREOF2) – have appointed Citinova to help manage the five year redevelopment.