This article is from the Australian Property Journal archive
GOODMAN Group has secured fasteners supplier ITW Proline to a new 21,505 sqm distribution centre at the Glasscocks industrial estate in Dandenong South in Melbourne's south-east.
The development has been pre-sold to Goodman Australia Development Fund and is the first project to be undertaken at Glasscocks, launching the 50.2ha industrial estate.
“We are very pleased to welcome ITW Proline as our foundation customer at Glasscocks. It further builds on our strong existing relationship with the company which has been a customer at our Holroyd Distribution Centre in NSW since 2008,” Goodman’s Australia general manager Jason Little said.
The new development for ITW Proline will accommodate the warehouse and distribution operations for the Melbourne and greater Victoria region. The purpose-built facility will include a 20,000 sqm warehouse and 1,505 sqm of associated office space on a 3.3 ha site. The project is currently scheduled to be completed in the first quarter of 2013, with an expected completion value of approximately $20 million.
ITW Proline have pre-committed to an initial 10 year lease term.
ITW Proline is relocating its operations from an existing facility in Hallam and consolidating a number of other sites, including a Goodman site at which ITW Proline had a further two years remaining on their lease.
The latest development increases Goodman’s current business and industrial space commitments to 56,235 sqm in Victoria with an expected completion value in excess of $110 million.
In addition to the ITW Proline development, stage one of the estate will also include the subdivision of four lots ranging between approximately 4,400 sqm and 6,000 sqm.
Property Review
