This article is from the Australian Property Journal archive
LOGISTICS giant Linfox headlines four new leasing deals secured by Frasers Property Industrial across more than 92,000 sqm in Victoria and Queensland.
Linfox will take more than half that total, filling 46,231 in the former Unilever facility at 38-52 Sky Road East at Melbourne Airport, to support its business operations delivering food, resources and medicine across road and rail.
Its five-year lease begins in June.
On the other side of Melbourne, warehousing and logistics company, QLS, has leased a 17,878 sqm facility at 7 Pacific Drive and 170-172 Atlantic Drive in Keysborough, from where it will deliver brown and white goods to customers across Australia. QLS will also use the facility to run its recycling business, ‘Ecycle solutions’, which collects all associated goods waste, recycles it and reuses the materials for everyday household products.
Gross take-up in the December quarter across Melbourne totalled 171,029 sqm, according to CBRE, which it said was under half what was recorded the previous quarter due to a shortage of space available for lease. The vacancy rate is at a record low of 1.1%.
Average super prime and prime rents grew by 6.4% and 5.6% quarter-on-quarter, respectively.
In Logan, truck design and manufacturer, Paccar Australia Pty Ltd will increase its footprint at Wayne Goss Drive in Berrinba, relocating to a larger facility adjacent to its current premises in September. The new facility at 103-131 Wayne Goss Drive extends to 13,165 sqm and includes a super awning for all-weather loading, as well as a solar system installation.
Global packaging manufacturer, distributor and visual communications company, Orora Limited has committed to a 15,186 sqm high clearance warehouse at 99 Shettleston Street in Rocklea, in Brisbane’s south. The warehouse will be used to store packaging items manufactured in its neighbouring facility. The premises features full drive around access and extensive awning area.
CBRE data shows Brisbane’s industrial vacancy is at 1.4%, also an all-time low.
“Our industrial assets in strategic locations have been crucial to our ability to secure deals with major national brands and long-term customers. We continue to have strong leasing activity and our portfolio continues to be 100% occupied,” said Ian Barter, managing director Australia at Frasers Property Industrial.
