A NEW industrial and logistics precinct in Melbourne's inner west has been given the green light as property investment group Charter Hall enters a joint venture (JV) with Japanese multinational Mitsubishi.
The site will be delivered through a $14 billion flagship industrial and logistics fund, CPIF, and Mitsubishi Estate Asia (MEA), investing through its affiliated entity, MEC Oceania Investment.
The JV partners will deliver a new 40,000sqm state-of-the-art industrial and logistics estate in Melbourne’s prime industrial precinct at Laverton North.
Laverton North is a significant industrial precinct, with long-term leases to a broad range of major tenant customers such as Woolworths, Coles, ALDI and Australia Post.
The development is the first stage of a broader $500 million estate with development potential of up to 175,000sqm of lettable area.
The development, situated on the corner of Dohertys Road and Fitzgerald Road 4km from the West Gate Freeway, is expected to provide direct connectivity to major road infrastructure to the northern, western and south-eastern markets, as well as the Port of Melbourne.
The development consists of 40,000sqm warehouse space, with flexibility to be divided into two tenancies.
The building will host 37m hardstands, 6,600sqm of super awning and a combination of recessed and on-grade docks.
The site’s sustainability initiatives will include 400kW of solar, 80,000L of rainwater tanks for recycled water and water and energy efficient fixtures and fittings. The project is targeting a five-star Green Star rating (Green Star Buildings V1).
Charter Hall managing director David Harrison said the pleased to have established the venture with MEA, one of Japan’s largest real estate consortiums with a successful 10-year track record investing in Australia.
"Through this partnership, we will deliver a brand new, state-of-the-art facility that strengthens our capacity to service significant tenant customer demand in a tightly held pocket of Western Melbourne," he said.
MEA’s head of Australia Yosuke Matsunaga said Charter Hall was "a highly respected partner with deep expertise in Australia’s logistics sector, and we are pleased to be collaborating on this prime Laverton North development".
“The project aligns with MEA’s strategy to expand our investment in Australia through partnerships with leading operators, focusing on high-conviction locations and sustainable assets," Mr Matsunaga said.
Construction started in January 2026, with Texco appointed as builders.
Practical completion is slated for November 2026.