Beverage manufacturer Nu-Pure will expand its Victorian footprint with a new pre-lease in Truganina in Melbourne’s west.
Nu-Pure, which manufactures 100% Australian-made beverages, has signed a 10-year lease for a 16,017 site within the Centennial-owned Boundary Industrial Park, for a net rent of $88/sqm.
A 9,010sqm distribution & logistics facility will be purpose-built for Nu-Pure adjoining Centennial’s existing asset at 383 Boundary Road, which on competition will be valued at approximately $35m.
Nu-Pure already has a base next door at 391 Boundary Road, with the new development to house its growing business operations.
Centennial acquired the existing buildings and land in 2019 and is thrilled to have Nu-Pure join as a customer within its expanding portfolio.
CBRE’s Harry Kalaitzis, Tom Hayes and Todd Grima worked closely with Centennial and Nu-Pure and identified the site as the perfect outcome for Nu-Pure’s expansion plans.
“The site fits perfectly with Nu-Pure’s growth plans, being located next to its existing base and providing excellent efficiencies for its business operations,” Kalaitzis said.
“It also provides exceptional access to Melbourne’s major road networks including the West Gate Freeway, Western Ring Road and Princes Freeway,” he said.
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Centennial Industrial & Logistics’ national investment portfolio includes more than 30 assets across Victoria, Sydney, Adelaide and Queensland.
“This transaction allows us to continue executing our strategy of acquiring under-utilised assets and repositioning and/or further developing them to create institutional quality product,” said Paul Ford, Executive Director of Centennial Industrial & Logistics.
“We have already had success repositioning and leasing the front units of the Boundary Industrial Park, which when combined with the Nu-Pure facility, creates a newly-constructed circa-$35m estate in the heart of Truganina,” Ford said.