Volkswagen hunkers down in Melbourne
Volkswagen Group – behind 10 brands including Bentley, Ducati, Lamborghini and Porsche – has renewed its tenancy at a major Centuria asset west of Melbourne.
Also offering financial service, insurance and fleet products, the car giant is speculated to be staying on 179 Studley Court, Derrimut, until 2028.
It has occupied the 9536 square metre warehouse and 400 sqm office, on 2.2 hectares in the Paramount Estate, as a parts centre over 15 years.
Centuria paid $16.5 million in 2021 for the Industrial REIT.
The property was valued mid-year at $19.6m assuming a six per cent capitalisation rate.
Nearby office/warehouses are occupied by AirRoad, Interpack, Linfox and Silk Logistics.
Audi, Cupra, Seat, Skoda are other Volkswagen Group brands.
Scania is another; that makes truck division in 2021 committed to a 9364 sqm parts centre at Campbellfield – since July owned by AsheMorgan.
Derrimut is about 17 kilometres from town.
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