Stockland’s Workplace & Logistics portfolio is set for further growth, with the exciting acquisition of 87 hectares of logistics development land being the first stage of a new 260 hectare masterplanned business park in Melbourne’s west.
Stockland is partnering with Mount Atkinson Holdings to build Melbourne Business Park, a new commercial and business hub adjacent to its masterplanned Mt Atkinson residential community and town centre. Offering owner-occupier, pre-lease and turnkey options, Melbourne Business Park is a rare opportunity for businesses looking to secure their part in Melbourne’s rapidly growing western corridor.
Stockland General Manager Workplace and Logistics Tony D’Addona said the site, with excellent access to road and rail connections, including to the future Outer Metropolitan Ring Road and the proposed Western Interstate Freight Terminal, will offer significant potential for future owner occupiers and tenant users.
“The logistics market in Melbourne’s west continues to experience strong demand as Australia’s largest logistics market. Situated just 25 kilometres from the CBD, this strategically positioned logistics precinct offers scale opportunities unique to this market.” he said.
Melbourne Business Park follows another recent logistics acquisition in Melbourne’s western corridor, with a $36 million greenfield project at Truganina, which commenced in January this year.
The company last year completed its $76 million developments at Ingleburn Stage 2, and Yennora, both in Sydney’s west, as well as a $23 million project at Willawong in Brisbane, adjacent to the Pallara residential community.
“Demand for logistics assets remains strong across the country and we are focused on new developments in the right locations to meet this continuing demand,” Tony said.“This latest development presents so much potential for Melbourne’s rapidly growing western region. By 2030, the predicted 20,000 residents of the new community at Mount Atkinson will have access to jobs on their doorsteps. In fact, when completed, the new Melbourne Business Park is expected to generate 18,000 new jobs1 .”
With the site part of a wider masterplanned mixed use/business precinct, work on the 87-hectare first stage is slated to commence in late 2019.
The new masterplanned community of Mt Atkinson will be a vibrant suburb with schools, retail, green spaces, and access to freeways and public transport with a proposed future railway station.
1 Victorian Planning Authority