This article is from the Australian Property Journal archive
PERRI Projects has revealed plans for a new $30 million urban logistics-centred industrial development in Port Melbourne, after acquiring the former manufacturing site for $15.5 million.
The diversified property development group’s Prime Port will be established at a 8,000sqm site at 359 Plummer Street in Port Melbourne, around 3km out from the CBD, following extensive upgrades to existing building.
The development will deliver a suite of ready-to-occupy industrial and commercial spaces including offices, showrooms and warehouses, targeting the inner-city logistics market.
Prime Port will offer future tenants a flexible range of self-contain hybrid spaces spanning between 400sqm to 2,00sqm, while amenities will include fitted kitchens and end-of-trip facilities.
“We recognise that workplace design is critical to employee and customer engagement. Prime Port’s tenants will enjoy a contemporary workplace with a unique identity that pays homage to the building’s industrial history while maximising functionality and useability,” said David Scalzo, managing director of Perri Projects.
The development will also honour Perri Projects’ commitment to net-zero or low-carbon projects, through utilising the existing building’s current structure and reusing existing materials.
“Prime Port forms part of Perri Projects’ broader central and strategic logistics (CSL) strategy, which focuses on delivering best-in-class commercial and industrial precincts in prime urban and city fringe locations. By bringing together a diverse mix of tenants in a space with unique history and character, these precincts will support a thriving future employment environment,” said Scalzo.
Prime Port will be located within Melbourne’s Fisherman’s Bend Precinct, Australia’s largest urban renewal precinct, with the area perfectly positioned between within close proximity of the Port of Melbourne and the CBD, in addition to offering easy access to major arterial roads.
“There is currently a scarcity of modern industrial and commercial spaces in the Port Melbourne area. Prime Port is designed to meet this market demand, offering unrivalled flexibility and amenity to suit a broad range of industrial and commercial requirements. These major repositioning works will also assist in encouraging staff back into the workplace post-COVID,” said Paul O’Sullivan, managing director of Lemon Baxter.
Prime Port is also set to augment Perri Projects’ CSL portfolio to $400 million in developable value, with its projected value of $30 million.
Upgrade works on Prime Port are currently underway, with completion anticipated for September, 2022.
