MANAGEMENT of Charter Hall Prime Industrial Fund say they have secured a 46,000sqm pre-lease to Uniqlo Australia on a 10-year term starting early next year.
The land is within the 60ha Midwest Logistics Hub in Truganina, Melbourne.
Charter Hall head of development, industrial and logistics, Andrew Simons, said the pre-lease to Uniqlo further reinforced the changing nature of retail supply chains.
“The facility will consolidate their operations into one purpose-built facility featuring cross dock operations with a super awning, 14.6 metre warehouse clearance height and container rated hardstand,” Mr Simons said.
CPIF fund manager Richard Mason, CPIF Fund Manager, said CPIF was “extremely pleased with the early leasing success of the Midwest Logistics Hub, with over 50% of the estate now committed, reflecting that the estate is the preferred location for national distribution centres due to its proximity to the port and customers and the area’s large investment in road infrastructure”.
Uniqlo worked with specialist supply chain and property firm TM Insight to develop the business case, run the property procurement and project manage the construction.
Development of Midwest Logistics Hub started in October 2019, with the first pre-lease to Toll Group for a temperature controlled 44,000sqm facility.
Charter Hall industrial and logistics CEO Richard Stacker said their ability to deliver high specification, modern logistics space in strategic locations across the eastern seaboard continues to attract quality tenants. “Charter Hall’s Industrial & Logistics development pipeline now exceeds $2bn, providing the scale and flexibility to satisfy the growth aspirations of our existing and prospective tenant customers, while also delivering high quality real estate and investment outperformance to our investors,” he said.