- Two new preleases secured with IVE Group and PPG Australia
- Two new leases for existing assets signed with Coolkidz Australia and Ryco Group
Frasers Property Industrial has secured four leasing deals across greater Melbourne amounting to nearly 64,000 sqm in gross lettable area, reflecting the growing demand for high quality and well-connected industrial facilities in Victoria. The prelease deals secured with IVE Group and PPG Australia total 45,429 sqm, a significant footprint that demonstrates the strong interest from customers in working with Frasers Property Industrial to create new state-of-the-art premises that are tailored to their specific needs.
The four customers comprise data-driven communications, integrated marketing and production and distribution specialist, IVE Group; global supplier of paints, coatings and speciality materials, PPG Australia; leading distributor of international baby brands, Coolkidz Australia and automotive filtration company Ryco Group.
IVE Group
Frasers Property Industrial has signed a 10-year deal with IVE Group, marking the sixth transaction between the organisations since 2014. The new deal sees the ASX-listed IVE Group relocate one of its existing operations from Frasers Property Industrial’s Braeside Industrial Estate to the 41.3-hectare Rubix Connect estate, within Melbourne’s southeast.
IVE Group’s new purpose-built facility, located in Ibis Circuit, Dandenong South, will comprise a total site area of 52,097 sqm, containing a 32,000 sqm warehouse and 700 sqm of office space when completed in 2025, and brings IVE Group’s total leasing agreements with Frasers Property Industrial to 84,992 sqm. The IVE Group lease deal was brokered by Gordon Fallance from GJS Property.
Matt Aitken, Managing Director at IVE Group said, “We are excited to be expanding our operations in the region to another Frasers Property Industrial purpose-built facility in 2025. The new deal supports the next stage of our business growth strategy and further expansion for IVE Group, allowing us to better service our customers. We highly value our ongoing relationship with Frasers Property Industrial and their ability to continue to work with us to create fit-for-purpose warehouses and facilities for our business.”
PPG Australia
Frasers Property Industrial has secured a five-year lease with PPG Australia at its expansive 42.3-hectare estate, Canvas West in Melbourne’s West. PPG will occupy a 12,191 sqm warehouse with an accompanying 536 sqm double storey modern office on a 20,195 sqm site.
PPG joins six existing customers at the estate, making Canvas West fully leased. Other customers at Canvas West include, Shaw Fabrics, Silk Contract Logistics, National Tiles, Knauf, Komatsu Australia and VidaXL.
Andrew Hanna, General Manager – Victoria at Frasers Property Industrial, said, “We are thrilled to be able to support the expansionary plans of our existing and new customers through our strategically located landbank and existing assets portfolio. It’s particularly encouraging to be able to continue long-term relationships with customers like IVE Group, and to meet their bespoke property needs, as well as to support the current and future growth plans of our new customers.”
In addition to securing its two prelease deals, Frasers Property Industrial has also recently leased a 6,867 sqm warehouse to Coolkidz Australia, located within the Braeside Industrial Estate, and a 11,417 sqm warehouse to Ryco Group at its West Park Industrial Estate, 23 km west of Melbourne’s CBD, a property owned by Singapore-listed Frasers Logistics & Commercial Trust and managed by Frasers Property Industrial. Both facilities are 5 Star Green Design certified and offer strong accessibility and connectivity to major transport routes. The deals are a testament to Frasers Property Industrial’s robust leasing activity across the region.
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