This article is from the Australian Property Journal archive
FRASERS Property Industrial has secured Décor as the latest tenant at its Rubix Connect estate in Melbourne’s Dandenong South, with the global homewares business committing to a brand new 14,244 sqm distribution centre and head office.
The Melbourne-founded company agreed to a 10-year deal over the facility, which will have a ridge height of 13.7 metres, comprise four loading docks and six on-grade roller doors, all directly connected to the 1,245 sqm head office and 97 car spaces.
The facility is being constructed by appointed builder CIP Constructions, and together with two speculative facilities, will total a combined 41,695 sqm when completed in mid-2023.
Décor will join recent signees Nolan Group and Zenexus at the 41.3-hectare estate in the south eastern suburbs, as well as logistics provider efm Logistics and power tools and garden products company Ozito. All were after new, purpose-built warehouses with multiple transport linkages. The estate is close existing major roads as well as the future intermodal freight terminal that will improve the area’s connectivity with the Port of Melbourne.
“What’s particularly interesting is that four of our five new Rubix Connect customers will be relocating their head offices,” said Andrew Hanna, general manager – Victoria for Frasers Property Industrial.
“We believe this has been enabled by the estate’s professional design and creative landscaping, which prioritises worker wellbeing, improves sustainability and fosters an environment that helps attract and retain a skilled labour force.”
The Décor facility is targeting a 5 Star Green Star Design and As-Built v1.3 certified ratings from the Green Building Council of Australia, the next-generation facility features 100kW roof top solar and rainwater collection.
“With record low building vacancy of sub-1% – we continue to see super prime industrial stock in Melbourne’s southeast lease well before a shovel is ever put in the ground,” said CBRE’s Davie Aiello, who brokered the lease.
CBRE has forecast industrial rents will grow by 11.9% in 2022, thanks to ongoing demand for warehouses, sheds and hardstand outpacing available supply across the major capital cities.
“Coupled with the very limited developable land remaining, it’s making Rubix Connect’s premium offering highly attractive to potential customers seeking expansive warehousing and connection to key transport.”
On the other side of the city, in the outer west, Frasers Property Industrial has just picked up a 23.4-hectare site in Cobblebank that it will use for an industrial estate with 100,000 sqm of facilities and an end value of over $215 million.
