News
Melbourne is experiencing short-term shortages of speculative supply across all industrial precincts
Words by Australian Property Markets News After being the most active industrial city in the country in recent years, take-up for industrial warehouses has slowed substantially in the first half of 2023 across the Melbourne market, down 45% from the same point in 2022. However, despite softening demand, Colliers industrial experts anticipate that vacancy for future supply across all markets in Victoria will hover between 2% and 0% by 2026, which will preserve the last two years of gains in effective rents despite more challenging economic conditions. Colliers’ data reveals that speculative supply across Melbourne will jump by 42% in […]
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Sod turned at Somerton terminal
Words by Ray Chan, Rail Express Image: Victorian ports and freight minister Melissa Horne (left), Broadmeadows state member Kathleen Matthews-Ward and Mishkel Maharaj at the terminal site. The Victorian and Federal Governments have welcomed the start of major works at the Somerton intermodal freight terminal in Melbourne’s north, which will create jobs and take thousands of trucks off suburban roads. Intermodal Terminal Company chief executive officer Mishkel Maharaj was joined by ports and freight minister Melissa Horne at the site – a key hub in both the Labor Governments’ $58 million Port Rail Shuttle Network – for a sod-turning ceremony […]
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1,100 ha in Beveridge, Victoria secured for an intermodal freight terminal
Words by Lucas Meyer, The Property Tribune National Intermodal completes acquisition of 1,100 hectares of land in Beveridge The site will be developed into an intermodal terminal for Melbourne’s Inland Rail Terminal will help grow Melbourne’s northern growth corridor and improve rail freight sector The Australian Government-owned, National Intermodal, has completed its acquisition of the Beveridge site. The company acquired the 1,100 hectares with the intent of developing it into an intermodal terminal for Melbourne’s Inland Rail and will become known as the Beveridge Intermodal Freight Terminal (BIFT). The site was determined to be a priority location in a recent […]
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Record-Breaking Industrial Rents Achieved as Two-Tiered Land Market Emerges, says Savills
Words by The Industrialist Savills has released its Shed Briefing: Industrial Spotlight Report for Q1 April 2023, revealing rising industrial rents and a shift in growth for land values on a state-by-state basis. According to Savills, the industrial market has experienced record rent surges, with rents growing by up to 24% Y/Y while vacancy remains at a historic low. A two-tiered land market is also emerging, as distinctions become apparent at a national and precinct level, with higher rates causing prime yields to rise nationally. Rental Growth Accelerates: East Coast Rents surge 40% since 2020 After a solid 18 months […]
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$400 million freight terminal coming to Somerton
Words by Millicent Spencer, Northern Star Weekly Somerton will be home to a $400 million freight terminal by 2025 under a new privately funded plan. The Intermodal Terminal Company (ITC) which is backed by Aware Super, announced today it would soon start construction of the Somerton Intermodal Terminal. The new terminal will form a part of the federal and state governments’ Port Rail Shuttle Network which will transport containers by rail from Somerton, Altona, and Dandenong South to the port of Melbourne. The hubs will allow trucks in outer suburbs to deliver or pick up containers instead of driving to […]
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Dexus secures speculative Melbourne industrial deal negotiated by CBRE
Words by The Industrialist RMA Automotive has leased a distribution facility at MAB and GPC’s Merrifield Business Park, CBRE’s Daniel Eramo and Joe Brzezek negotiated the lease for the super-prime grade facility at 19 Innovation Drive, Mickleham. Dexus Development Manager, Lydia Gabriel, said the facility at Merrifield Business Park was a core asset for the group. RMA Automotive has committed to a 21,385sqm distribution facility at MAB and GPC’s Merrifield Business Park, demonstrating the success of speculative development strategies in Melbourne’s north. “This significant leasing transaction highlights the recent success of the speculative development market in Melbourne’s north, with the […]
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FORD AUSTRALIA SELECTS MERRIFIELD FOR MAJOR DISTRIBUTION CENTRE
One of Australia’s largest automotive parts distribution centres will open at Merrifield Business Park in late 2021, with leading Australian developers MAB and GPC confirming Ford Australia has signed a 10 year pre-lease for a 51,480m2 facility. The new purpose-built parts distribution facility, to be constructed by Texco, will comprise a 50,580m2 warehouse, 900m2 office occupying a site of 87,691 m2 and features a 5-Star Green Energy rating, super awning and 14.6 metre clearance height to enable Ford to store parts for current and future generation cars. It will also offer Ford staff onsite parking facilities, a cafeteria and a […]
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Smallgoods producer D’Orsogna opens new $64 million factory at Merrifield
From an article by Jack Paynter, Hume Leader Sunday August 25, 2019 A new $64 million processing and packaging plant supporting more than 100 jobs has opened at Mickleham’s new Merrifield Business Park. Family-owned smallgoods manufacturer D’Orsogna had outgrown capacity at its Mount Waverley factory and State Government cash helped it build the new home for its cooking, smoking, cooling, storing, slicing and packaging needs on Australia’s east coast. The business has grown from a family butcher shop in West Perth in 1949 to now supplying Woolworths, Coles, Subway, Hungry Jack’s and other businesses across the nation. More than 160 […]
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Kaufland distribution centre takes shape
From an article by Olga Galacho, Herald Sun Wednesday July 3, 2019 Retail giant Kaufland Australia has kicked off construction of its $255 million state-of-the-art distribution centre at Merrifield Business Park in Mickleham, Victoria. The 117,000+ square metre facility, built by Vaughan Constructions, will include 130 loading docks and will incorporate the latest technologies in automation, sustainability and efficiency. Kaufland Australia said the facility will create 600 new jobs for the area. At a sod turning ceremony, Kaufland Australia directors, Maximilian Wiedmann and Patrick Bezner, thanked Hume City Council for their work ensuring the centre met all planning and approval […]
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