Spotlight leases ex-Toyota warehouse
Spotlight Retail Group has leased a Laverton North industrial property last occupied by automotive component manufacturer Toyota Boshoku.
The agreement for the 33,358 square metre facility at 235-239 Boundary Road is for an initial five years.
It is believed the tenant is paying starting annual rent of over $80 per square metre ex-incentives.
The property is held by Qanstruct director Mark Ruff who paid $16.5 million in February, 2018.
The year later, the businessman extended its area and height and improved its sustainability credentials at a speculated $15m cost.
Last week we reported e-commerce store Costway committed to its first Australian distribution centre – a Lendlease facility measuring 18,751 sqm – at Truganina, about four kilometres west of 235-239 Boundary Rd.
235-239 Boundary Road
On 5.73 hectares, the Laverton North property is designed with 2052 sqm of offices and staff amenities.
The 31,306 sqm warehouse – with clearances between 9.2-16.8 metres and able to contain 44,000 pallets – is accessed from eight at-grade loading docks and 13 roller doors (story continues below).
There are two power supplies with a total 3000 KVa capacity and an Early Suppression Fast Response (ESFR) sprinkler system.
Outside there are four canopies and 273 car parks.
JLL agents Matt Ellis, Matt Crofts and Tegan O’Brien, who represented Mr Ruff, said the industrial lease deal is one of the largest struck in Melbourne this year.
Spotlight, which controls brands including Anaconda, Harris Scarfe and Mountain Designs, presently operates out of a distribution centre at nearby 217-225 Boundary Rd.
Laverton North is about 17 kilometres west of the CBD.
In 2018 Qanstruct sold its distinctive Hawthorn headquarters – a church-converted-warehouse – for $9.85m to an offshore investor.
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