Centuria Opens Gates of $116m Melbourne Logistics Estate

Centuria Industrial has opened the gates of its $116-million super-prime industrial estate in Melbourne’s north, M80 Connect.

The 7.92ha site at 100 Bolinda Road, Campbellfield, comprises 45,375sq m across five warehouses and is more than 50 per cent leased, according to its owners, Australia’s largest listed pure-play industrial fund, Centuria Industrial REIT (CIP).

CIP said M80 Connect had been delivered “to meet rising occupier demand for modern, sustainable facilities in north Melbourne’s industrial heartlands where vacancy rates are a record low of 0.7 per cent”.

Tenants include power infrastructure and critical equipment enclosure specialist EnerSys Group Australia & New Zealand; and global logistics company LX Pantos.

When fully occupied, Centuria anticipates M80 Connect will deliver about 280 jobs on top of the 600-plus jobs generated during development.

The property was developed by Cadence Property Group with Centuria’s in-house development team, and built by Texco Construction.

Centuria head of funds management Jesse Curtis said that the domestic industrial market continued “to be driven by burgeoning e-commerce adoption and rising onshoring trends, creating more jobs and supporting other expanding industries such as infrastructure, logistic and retail”.

M80 Connect features 15m to 35m loading canopies allowing for all-weather operations, B-Double access, secure container-rated hardstand, multiple on-grade container-height motorised roller shutter doors, recessed loading docks, ESFR fire sprinkler system and 277 carparking spaces.

Sustainability features include electric vehicle charging stations, 350kW solar system, rainwater harvesting for estate irrigation, water efficient fixtures and fittings, and energy-efficient lighting.

▲ A render of the now-completed M80 Connection precinct north of Melbourne.

The development is targeting a Green Building Council of Australia Five Star Green Star rating.

M80 Connect is 15km from Melbourne’s CBD, 10km from Tullamarine Airport, and 17.5km from the Port of Melbourne, and has direct access to the M80 Metropolitan Ring Road.

Space yet to be leased includes Warehouse 2 (9303sq m) and Warehouse 3 (10,528 square metres).

In the past three years, CIP has developed more than $200 million of industrial assets in Victoria. It has identified a $1-billion development pipeline nationwide over the next five years.

CIP is one of Victoria’s largest industrial landlords with a portfolio of 32 assets worth around $1.4 billion.