CONTINUING a stream of overseas investment in Australian supply chain Hong Kong’s C Capital has made a major land acquisition in Victoria’s Northern Freight Precinct.
The private asset manager has bought what it describes as a 507-hectare strategic landholding at Beveridge, the north-of-Melbourne connection to the Inland Rail project. C Capital notes the region as set to transform freight and logistics operations across metropolitan Melbourne while supporting broader industrial and commercial development in the area.
The investment is underpinned by strong structural fundamentals in Victoria's industrial and logistics market, the investor says: “Demand for well-located industrial and logistics assets continues to significantly outpace supply, with vacancy rates consistently remaining below 4%.
“The Beveridge site represents one of the few remaining large-scale landholdings available within the Northern Freight Precinct, positioning it as a rare opportunity to meet long-term demand from logistics, industrial and data centre occupiers.”
The transaction marks a major milestone in C Capital's Australian strategy and reinforces its long-term commitment to the market as a core pillar of its pan-Asia investment platform. Upon completion, the developed land is expected to have an estimated end value of approximately $4.5 billion, spanning logistics, industrial and data centre assets.
C Capital has partnered and appointed Lendlease as the Master Development Partner for this project. This investment represents C Capital's first large-scale infrastructure-focused investment in Australia following the acquisition of Richmond Funds Management in February 2025 and signals the firm's intention to expand its real assets and infrastructure-linked strategies alongside its established growth-stage investment platform across pan-Asia markets, it says.
The firm is focused on deploying long-term capital into assets supported by essential infrastructure and structural demand, CEO Ben Cheng said, leveraging both local execution capabilities and its broader pan-Asia investment platform.
The appointment of Lendlease reflects C Capital's approach of partnering with established local operators to support the long-term development of strategic assets. Through the collaboration, Lendlease will act on behalf of C Capital to progress rezoning and infrastructure enablement, supporting the future development of logistics, industrial and data centre uses over time.
“This investment reflects C Capital's long-term conviction in Australia as a core market within our pan-Asia strategy. As we continue to build a diversified private markets platform, we are focused on deploying patient capital into assets aligned with long-term economic and infrastructure growth. Partnering with experienced local operators such as Lendlease is central to how we scale our presence and create sustainable value over time” Mr Cheng said.
“This investment represents a significant step in the build-out of our Australian platform and reflects our confidence in the long-term fundamentals of Victoria's industrial and logistics market. The scale and strategic location of the Beveridge site provide a rare opportunity to develop infrastructure-linked assets at institutional scale.”