This article is from the Australian Property Journal archive
THE Australian government-owned National Intermodal Corporation has sealed the deal to buy a 1,100-hectare site at Beveridge, in Melbourne’s northern growth corridor, that will become a new multi-billion dollar intermodal terminal connecting to the Inland Rail.
The Inland Rail Review in April endorsed the Beveridge site as the southern end-point of Inland Rail, and as one of two intermodal terminal sites in Melbourne alongside a site in western Melbourne’s Truganina.
In addition to these, a privately-funded $400 million intermodal terminal backed by Aware Super is being built in Somerton, also in Melbourne’s north, while Salta Properties and the Victorian government are partnering on a facility in Dandenong South, in the south east.
When developed, the Beveridge site will have the ability to offer the efficiency of double-stacked container services for 1,800-metre freight trains to Perth via Parkes, and to Brisbane on completion of Inland Rail.
“The terminal will significantly enhance competition in the rail freight sector by ensuring independent, open access arrangements for all industry participants and offer the ability to provide freight services across Melbourne and through to Sydney, Brisbane, and Perth,” National Intermodal said.
The large landholding at Beveridge – acquired from Qube, which has the option to reacquire up to 200 hectares for its own use – has the advantage of incorporating a 500-hectare environmental buffer which can be protected and enhanced for the amenity of both future precinct occupiers and surrounding communities. The planned precinct has the potential to be twice as large as the Moorebank Intermodal Precinct in Sydney, which is currently the largest modern integrated supply chain logistics precinct of its kind in Australia. Asia-Pacific logistics specialist Logos and its consortium partners AustralianSuper, AXAM IM Alts, Ivanhoé Cambridge and NSW Treasury Corporation’s TCorp acquired the facility in for $1.67 billion two years ago. National Intermodal is overseeing its delivery on behalf of the Australian government.
National Intermodal is targeting having a preliminary terminal available at Beveridge to receive trains by 2025, with the fully integrated 500,000 TEU per annum terminal development operational in 2028/29.
It will be seeking further market interest for both customers and co-investors building on the recent MOU entered into with Aurizon to become a foundation customer.
“The development of a modern intermodal precinct in Melbourne’s north will continue the revitalisation of the rail freight sector. This project, together with Inland Rail, will help transform our supply chain and importantly, lower costs for Australian businesses and families,” said National Intermodal CEO James Baulderstone.
“We recognise that development of the intermodal precincts at Beveridge and Truganina will be genuinely transformational for Victoria and particularly the surrounding communities, providing significant employment opportunities during the construction and operational phases, as well as being key catalysts for other local infrastructure investment.”
“Once completed, this world-class logistics precinct will create thousands of high-skilled supply chain jobs of the future. Our goal will be to ensure that residents of the Whittlesea and Mitchell Shire council areas will hold as many of these jobs as possible. We will be working across the Australian logistics industry to create training opportunities for locals in these areas to ensure they are skilled and ready when the precinct becomes operational.”
Baulderstone incorporating renewable energy technologies, including the massive solar energy potential of large-scale industrial warehouse rooftops, “provides the opportunity to create a true net zero logistics hub”.
