$1.3m warehouse for lease in Melbourne’s west 

Colliers’ Nick Saunders dealt with the off-market arrangement of warehouses in Melbourne’s west for ESR Australia, accomplishing areas of strength for a rental of more than $1.3 million. 

Colliers notes the arrangement contains two individual properties of 3974 sqm and 6139 sqm, separately, rented in one line, sitting on a low inclusion site with a complete land area of 26,000 sqm. 

“The warehouses’ features, including drive-around access, a mix of on-grade and recessed loading docks and a 12.4-metre-high internal warehouse clearance, were particularly attractive to a business in the transport and logistics sector,” Colliers’ National Director Nick Saunders said. 

The ESR-possessed distribution centres – recently involved by Allied Sea Freight-are situated inside the firmly held Angliss Estate in Laverton North, with great admittance toward the Western Ring Road and Princes Freeway, roughly 15 km west of Melbourne’s CBD. 

“The transport and logistics sector in Melbourne’s west continue to drive up rents on buildings that suit this industry type, as limited properties offer low site coverage,” Saunders added. 

Australian event company Harry the Hirer has focused on a sum of 10,113 sqm of stockroom space on a five-year rent in Laverton North. 

Melbourne’s west continues to perform exceptionally well, despite current economic conditions and rising interest rates, driven by the low vacancy rate, currently sitting at 0.74 per cent, combined with strong demand from tenants seeking larger spaces for business growth. 

We’ve seen multiple examples of escalating rents within the space due to the scarcity of industrial assets offering suitable transport attributes, and with few opportunities available to the market, we’re the high competition to remain,” said Saunders.