Frasers Property : Toll chooses Frasers Property Industrial’s Braeside Industrial Estate – now 100 per cent leased

14 Aug 2020

MELBOURNE, 14 AUGUST 2020

Frasers Property Industrial has secured a lease with Toll Global Express (Toll) in Victoria's Braeside Industrial Estate, which is now 100 per cent leased.

Toll secured the last vacant speculative tenancy in the 23-hectare estate, which now comprises 62,000 sqm of prime grade modern industrial facilities ranging from 6,000 sqm to 14,500 sqm. They will join GALE Pacific who leased the adjoining tenancy.

Located at 2 Beyer Road, Braeside, Toll's 10,787 sqm high clearance facility comprises 10,193 sqm and 591 sqm office.

Anthony Maugeri, General Manager Southern Region for Frasers Property Industrial comments, 'We are delighted to secure Toll in another Frasers Property Industrial development. It is particularly pleasing when we work with repeat customers like Toll. We have previously developed for them in Port Melbourne, Truganina, Altona and Melbourne Airport.

'Low vacancy rates, tight land supply, rental growth and strong tenant demand for premium grade warehouse facilities have driven global businesses and ASX listed companies into Braeside Industrial Estate. Companies looking to take advantage of new infrastructure linkages, namely the Mordialloc Bypass will also significantly benefit from moving into the industrial park.'

David Aiello, Senior Director at CBRE said, 'Toll's requirements were a little unique in terms of finding a facility that would cater for its all-weather loading activities, high volume of truck movements and parking. Frasers Property Industrial's ability to act quickly and be flexible, were critical to the deal.'

'Yet again, the company's ongoing commitment to speculative development has paid-off in a market that is facing a critical shortage of A-Grade warehousing options. They are market leaders when it comes to designing industrial facilities, which in this case with only slight modifications can accommodate almost all logistics users.'

This month, Toll will move into their new premises. Key features of the facility include a 34-metre super awning, corporate grade mezzanine office, six roller shutter doors, four recessed loading docks and it is designed to achieve a 5 Star Green Star Design & As Built v1.1 certified rating from the Green Building Council of Australia.

Frasers Property Industrial has one site/opportunity remaining in the estate which has planning approval for circa 31,000 sqm of gross lettable area.

Braeside Industrial Estate has excellent linkages to and from the industrial park via a new signalised intersection on Governor Road, developed by Frasers Property Industrial. The estate also has good access to the Monash and East Link freeways and will be a major benefactor of the under-construction Mordialloc Bypass, earmarked for completion in 2021.

Mordialloc Bypass is a new nine-kilometre link between the termination of Mornington Peninsula Freeway and Springvale Road, Aspendale Gardens and Dingley Bypass, Dingley.

The deal was brokered by CBRE Senior Directors David Aiello and James Jorgensen.