LOGISTICS real estate specialist, LOGOS, is developing a new 27,000 square metre purpose built facility for Intertrading Australia. The household consumables, wholesale importation and distribution business has undertaken a 15-year pre-commitment across the facility to support expansion of its business.
The design of the new facility incorporates an 18 metre high-bay warehouse, the third LOGOS has developed in Australia for its tenants, with traditional racking across the majority of the facility.
Given the area’s strong growth and significant investment in local infrastructure, LOGOS is also developing a circa 12,000 square metre speculative property as part of these works to meet the demand from new and existing tenants. Both facilities have received development approval and construction will commence this month.
These works mark the final stages of Prestons Logistics Estate’s development which also comprises the recently completed Volvo Group Australia facility, two Toll facilities and the 14,800 square metre new Toll facility currently under construction.
Gavin Bishop, national director industrial at Colliers International, who brokered the Intertrading deal, said, “We are experiencing strong leasing demand within the south west with limited prime grade offerings on the market for lease above 10,000 square metres.
“Given the lack of supply we are seeing rental growth occur especially within the Prestons/Moorebank precincts. The Prestons Logistics Estate has excellent access to the M7 Motorway and is located within close proximity to the Moorebank Intermodal which will drive leasing demand to this estate in the future.”
On completion, the Prestons Logistics Estate will have a total gross lettable area of 141,000 square metres.