Dentist turned developer Adam Davidson’s Up Property has secured two more tenants to occupy part of the Philip Morris cigarette making plant in Moorabbin, which is being re-purposed.
In the latest deal, efm Logistics Services Group has rented 2850 square metres within a 5257 square metre renovated office at 1 Cochranes Road.
It will be joined by Collingwood-based craft beer maker Stomping Ground, which is planning to build a beer hall, event space, garden and 12 hectolitre brewery within a warehouse on the 6.7 hectare site, which Up Property has branded Morris Moor.
Morris Moor leasing agents have been promoting Stomping Ground’s presence since mid-May but the brewer only confirmed the news this week.
Other previously reported tenancies include:
- Clik Collective – a co-warehousing business which has signed up for 6000 sqm;
- Little Learning, which will open a 140-place childcare centre within a building fronting Chesterville Road; and
- Schotts Home Emporium, which will occupy a 4140 sqm space at the eastern edge of the site.
Philip Morris listed the Moorabbin site in 2015 after 60 years of ownership – relocating its local offices to 8000 sqm at South Wharf Tower in Docklands, and production facilities to South Korea.
Marketed at the time as 254-258 Chesterville Road, it sold to Up Property for $23.7 million.
Last May, Up Property unveiled plans to refurbish 50,384 sqm of offices and factories on the site into a $100 million employment precinct and hospitality zone with restaurants, cafes and a wine bar.
Upon completion, it is expected Morris Moor will be a workplace for over 1600 people – twice the number Philip Morris employed there.
Elsewhere in Victoria, Up Property controls high-profile Geelong sites including a former CSIRO facility in Belmont which it acquired for a price reported to be as high as $10 million in 2015 and is now being replaced with a residential estate, Lume.
Last November, we reported Up Property paid more than $7 million for another Belmont site at 107-123 High Street.
Up Property also holds a low-rise office at 126 Little Malop Street (pictured, above), part-leased to Barwon Health and News Corp Australia’s Geelong Advertiser.
Last month, News Corp Australia sold the 60-year old former Geelong Advertiser office at 191-195 Ryrie Street, Geelong, to a Melbourne-based student accommodation provider, banking $5 million.