This article is from the Australian Property Journal archive
PVH, the American clothing company that owns brands including Calvin Klein and Tommy Hilfiger, has leased an industrial property in Melbourne’s north west in an expansion move.
The Maidstone property at 17-23 Williamson Road has a 3,870 sqm building that includes 400 sqm of office space, on a 1.3-hectare site with a 9,000 sqm yard and 10 car parks.
It is next door to Bunnings Maribyrnong and Baby Bunting, as well as being close to the Highpoint Shopping Centre.
PVH, whose stable also include Warner’s, Olga, and True & Co, has signed a long-term lease for the property at a rate of $115 per sqm.
The deal was brokered by Joel Davy and Andrew Gallucci of Knight Frank in conjunction with Mario Ruberto from MCG.
Davy said PVH had leased the site due to its inner western location close to plenty of amenity, with accessibility to its store locations, including at Highpoint Shopping Centre, while the facility is larger than its current digs in the inner north, and Davy said that will provide them with more space to carry more stock and service customer orders.
“This was a strategic last mile location for PVH, to service their many retail stores.
“Access to public transport and key linkages making the site accessible for their staff was important as the facility will be largely operated by those that live and work in stores nearby.”
Gallucci said PVH had conducted an extensive search for an inner west location before leasing the Maidstone warehouse.
“The tenant had missed out on three to four other facilities in the area, with many tenants competing for limited stock and offering above-market rental rates to secure a space,” he said.
“PVH was able to secure this property at a rental rate that was more suitable to meet their business efficiencies while also being in a desirable location.
“The property is a warehouse but is almost like a retail site, looking at the surrounding neighbours, so it was a perfect fit for PVH.”
