Stockland together with its joint venture partner Mt Atkinson Holdings has started construction of one of the largest logistics precincts in Victoria with an estimated end value of $2 billion and approximately one million square metres of warehouse space, the equivalent of 50 Melbourne Cricket Grounds.
With construction now underway, Melbourne Business Park will achieve a major milestone with the development of the first 95-hectare stage of the total 260-hectare logistics precinct located at Truganina in Melbourne’s fast growing western corridor.
Stockland General Manager, Workplace and Logistics, Tony D’Addona, said: Stockland acknowledges the strong interest from businesses which have already seized on the opportunity to establish their industrial footprint in Melbourne’s western growth corridor.
“Since launching the first stage of the masterplanned logistics precinct in November 2019, 21 businesses and investors have now committed to purchase lots, attracted to the precinct’s strategic location in Melbourne’s west and proximity to significant planned future infrastructure.
“Makita, the Japanese tool giant, will base its primary Victorian distribution and service centres at Melbourne Business Park, anchoring the site with a six-hectare land acquisition and plans to initially employ approximately 70 people.”
Makita Australia Director, Nick Poulos, said “Makita has chosen Melbourne Business Park to position its Australian business for further growth, underpinned by our continued range expansion and multichannel path to market. Our investment alongside Stockland demonstrates our confidence in Melbourne’s western corridor to provide superior connectivity to the port and our customers.”
Makita will be joined at the logistics hub by other businesses associated with the construction and development sector including Ashi Hire, Califam, Pelligra, Winslow and Universal.
Group Executive and CEO Commercial Property, Louise Mason, said: The Workplace and Logistics sector continues to drive significant growth for Stockland’s Commercial Property portfolio.
“Stockland has invested in strategic locations to ensure that there is industrial property available close to large urban populations. This development forms a part of our overall portfolio strategy, a key project in our $5.9 billion development pipeline.”
Melbourne Business Park integrates with Stockland’s thriving Mt. Atkinson masterplanned community as part of the broader Mt. Atkinson Precinct Structure Plan, approved by the Victorian Government. Future stages of the logistics hub will be available to businesses seeking pre-lease opportunities.
“Melbourne Business Park will provide employment to thousands of Victorians and, with early works now started, the project will be a significant contributor to Victoria’s employment and economic growth as we recover from COVID-19,” said Tony D’Addona.
Melbourne Business Park is close to road and rail connections, located on Hopkins Road two kilometres off the Western Highway diamond interchange, and 30 kilometres from the Port of Melbourne. The area is flagged for significant freight and logistics infrastructure investment and is close to the planned future Outer Metropolitan Ring Road (OMR) and Western Interstate Freight Terminal (WIFT).
The logistics precinct will incorporate market-leading sustainability elements and reduction of CO2 including re-use of onsite excavated rock and passive irrigation of trees from rainwater run-off.