Charter Hall Group (Charter Hall or the Group) is pleased to announce that it has established a joint venture (JV) partnership between its $14 billion flagship industrial & logistics fund, CPIF, and Mitsubishi Estate Asia (MEA), investing through its affiliated entity, MEC Oceania Investment Pty Ltd.
Together, the JV partners will deliver a new 40,000 square metres (sqm) state-of-the-art industrial & logistics estate in Melbourne’s prime industrial precinct at Laverton North. The development is the first stage of a broader $500 million estate with development potential of up to 175,000sqm of lettable area.
Located in Melbourne’s core inner-west, Laverton North is a highly sought-after industrial precinct where Charter Hall has a strong existing footprint, with long-term leases to a broad range of major tenant customers, including Woolworths, Coles, ALDI and Australia Post.
Situated on the prime corner of two major industrial arterials, namely Dohertys Road and Fitzgerald Road, only 4km from the West Gate Freeway, the development provides excellent connectivity to major road infrastructure to the Northern, Western and Southeastern markets, as well as the Port of Melbourne.
The development consists of 40,000sqm warehouse space, with flexibility to be divided into two tenancies. The building will host 37m hardstands, 6,600sqm of super awning and a combination of recessed and on-grade docks. Market-leading sustainability initiatives include 400kW of solar, 80,000L of rainwater tanks for recycled water and water and energy efficient fixtures and fittings. The project is targeting a 5 star Green Star rating (Green Star Buildings V1).
You can now read the full press release at the link below
