Visy signs up for massive new warehouse
Packaging giant Visy Australia will move into a purpose-built $46 million manufacturing and distribution centre in Melbourne’s west.
Visy has signed a 20-year lease with Singapore-listed Frasers Property Australia which will underpin construction of the new distribution centre in Fraser’s West Park Industrial Estate in Truganina.
The 42,770 square metre facility with a 1025 square-metre office and 124 car spaces will sit on 7.843 hectares at 27 Doriemus Drive and be developed in two stages.
The first stage, being built now by Frasers’ construction division, will be finished in September this year, northern region general manager Anthony Maugeri said.
“An end-to-end solution will be provided to ensure the design and layout meets Visy Australia’s requirements to provide a highly sustainable and energy efficient manufacturing and distribution facility,” he said.
Other tenants on the estate include logistics giants CEVA, Toll and DB Schenker, and building product manufacturer National Tiles.
“This recent commitment shows renewed strength in Melbourne’s manufacturing market, which we expect to continue well into 2019,” Mr Maugeri said.
The transaction was brokered by Ben Fahey from Frasers Property, Stuart Duncan from Visy and Michael Green from Cushman Wakefield.
The Visy warehouse will be held in Frasers’ investment property portfolio.
