This article is from the Australian Property Journal archive
FRASERS Property Industrial has secured two decade-long pre-lease deals with caravan manufacturer Crusader Caravans and chassis manufacturer Intel Engineering, over warehouse facilities being developed as part of a $62 million trio within its northern Melbourne estate.
The new tenants will join Mazda at 4Ten Epping, where the automaker’s new 37,260 sqm national parts and distribution centre reached practical completion this month, with an end value of $69 million.
Crusader Caravans and Intel Engineering will occupy adjoining warehouse and office facilities with a net lettable area of 15,010 sqm and 5,760 sqm respectively. Construction is expected to reach practical completion in February.
A neighbouring standalone 16,972 sqm speculative facility with extensive Cooper Street frontage is to be developed concurrently.
The total end value of the three facilities is estimated at $62 million. They will feature high clearance warehouse space, offices, recessed loading docks and on-grade rolling doors, and target 5 Star Green Star Design & As Built v1 certified ratings.
“We’re continuing to see strong demand for quality industrial facilities in Melbourne, largely due to the scarcity of developable industrial land and existing leasing opportunities available in the region,” Anthony Maugeri, General Manager, Southern Region for Frasers Property Industrial.
The master planned 4Ten Epping estate encompasses about 62 hectares of industrial zoned land in a suburb is witnessing a wave of change. Genesis Property has just snapped up a 1.63-hectare infill development site opposite the Pacific Epping Shopping Centre and Northern Hospital, which is close to a former Bunnings site owned by Kaufland and bought by large format retail centre owner Aventus. On the other side of Cooper Street, the Victorian government recently rezoned a tract of land that paved the way for Riverlee’s transformation of Epping Quarry into a $2 billion mixed use development.
4Ten is set to benefit from the construction of the North East link, which is scheduled for completion in 2027.
Serge Valentino, managing director of Crusader Caravans said the move effectively doubles the business’s production capacity.
Nathan Bingham from TMX brokered the deal between Frasers Property Industrial, Crusader Caravans and Intel Engineering.
