Food producer Scalzo is the first tenant to commit to the 127-hectare Horizon 3023 business park, in Melbourne’s west.
Scalzo will occupy a 35,300 square metre purpose-built office/warehouse (artist’s impression, top and below) within the Ravenhall estate at 11-167 Palm Springs Road.
The facility will include manufacturing, logistics and storage functions and a head office for Scalzo Foods, which is currently headquartered in West Melbourne.
The Ravenhall facility is due for completion by late next year.
Lease a landmark for Dexus, DWOF and DALT
Horizon 3023 is being developed by Dexus, Dexus Wholesale Property Fund (DWOF) and the Dexus Australian Logistics Trust (DALT).
It is replacing a Ravenhall block we reported the consortium acquired last August, as part of a $188 million spending spree on three Australian east coast industrial development sites.
The landlords said the precinct is set to benefit from the medium to long term development of the proposed Western Intermodal Freight Terminal.
Dexus, DWOF and DALT plan to build up to 400,000 sqm of commercial and industrial property at Horizon 3023 over the next five to seven years.
The end value of the product, the landlord estimate, will circle $500 million.
Since buying the site, civil and infrastructure works have commenced across 37 hectares.
The first stage of the business park’s development will include the Scalzo facility, as well as a c34,000 sqm Build to Lease facility.
Dexus head of Industrial Development, Chris Mackenzie, said “we are pleased to welcome Scalzo to our portfolio and work with them to meet their long-term needs.”
“Proximity to key infrastructure such as major arterial roads, the port and airport, and suburban rail with its own train station have been the key drivers in Scalzo’s decision to partner with Dexus.
“Consumer and technology trends are driving the change to industrial customer needs which is impacting the design and delivery of the new wave of commercial and industrial facilities.
“The demand for new industrial facilities in Melbourne’s west has largely been driven by customers seeking to reconfigure their supply chains and move to purpose-built high quality integrated facilities.
“Industrial customers are consolidating their operations in order to achieve efficiencies, and developers have responded by fully integrating their customers’ operations into the design of the facilities, requiring a higher and earlier understanding of the customers needs.”
Colliers International’s national director, Industrial, Nick Saunders, introduced Scalzo.