This article is from the Australian Property Journal archive
CHINESE cosmetics giant UA Holdings Pty Ltd has bought an Altona warehouse for $10.8 million to operate its first Australian distribution centre.
Gross Waddell’s Jamie Stuart and Savills’ Tim Casanella negotiated the deal with China’s third largest cosmetics retailer for the property at 11-13 Chambers Rd in Melbourne’s western industrial hub.
The 24,800sqm site comprises 10,632sqm of floor space over two warehouses, with 10,000sqm of hardstand.
The agents said the property’s high clearance warehousing facilities, extensive hardstand areas, drive around capability and quick access via Millers Road to the West Gate Freeway were the key selling points.
UA Holdings CEO Jeff Nadelman said the acquisition was in line with the firm’s strategic plans for the Australian market.
“The property is a key component of our overall vision to provide Australia, Asia and Europe with quality cosmetic products by investing in an asset that offers close proximity to major arterials and superior efficiencies,” he said.
Australian Property Journal
