06 Feb 2020
MELBOURNE, 6 FEBRUARY 2020
Frasers Property Industrial has secured Mazda Australia as anchor tenant in 4Ten Epping located at 410 Cooper Street, Epping in Melbourne’s north.
Mazda Australia has entered into a 10-year lease for a 37,235 sqm national parts and distribution facility comprising a 36,275 sqm warehouse, 960 sqm office and 140 car spaces. The new facility is expected to be completed in December 2020.
Anthony Maugeri, General Manager, Southern Region, for Frasers Property Industrial comments, “This is the second major deal we have finalised with Mazda Australia. In 2016, we completed the company’s state-of-the-art national headquarters in Mulgrave and are pleased to continue our relationship by building their National Parts Distribution Centre.
“The bespoke facility will almost double Mazda Australia’s warehouse footprint. It is strategically positioned within close proximity to major road arterials including the Hume Highway and is located between two full diamond interchanges, allowing unparalleled access to Melbourne’s northern suburbs.”
Mazda Australia is moving from 880 Cooper Street, Somerton where they currently occupy a 25,199 sqm warehouse and office space.
Vinesh Bhindi, Mazda Australia Managing Director said, “The investment reflected Mazda’s commitment to Australia and providing the ultimate customer experience. Mazda Australia is committed to continuously improving our service and ability to meet customer needs.
“This new National Parts Distribution Centre will allow our staff to continue to deliver industry-leading customer service through the timely and accurate distribution of vehicle parts in a safe, purpose-built environment.”
He added, “This is the second major facility upgrade project we have undertaken in the past few years after moving into state-of-the-art headquarters in Mulgrave and we look forward to opening this new facility in 2021.”
Features of Mazda Australia’s new state-of-the-art centre include the warehouse will have a springing height of 10 metres and a seven-tonne post loading, six roller shutter doors, six recessed loading docks, two separate 36-metre wide drive through awnings and full drive around access.
4Ten Epping is Frasers Property Industrial’s newest estate. It is located on a 63.4-hectare prime industrial land parcel and is situated on the Hume Freeway and Cooper Street diamond interchange. In addition, the estate will also have a frontage on O’Herns Road, which is being upgraded with a new interchange linking to the Hume Freeway.
The estate will also strongly benefit from the proposed North East Link, which will provide the missing link between Melbourne’s North and South East. The project will commence in early 2020 and is expected to be completed by 2027.
Upon completion, 4Ten Epping is estimated to have an end value of A$306.5 million1. and features pre-lease development, land and build packages as well as selective land sales. The estate will accommodate up to 250,000 sqm of built form.
Frasers Property Industrial will simultaneously develop three speculative buildings in 4Ten Epping with a total gross land area of 39,020 sqm and approximate completed end value of $50 million.
William Kerr and Peter Kerr from Kerr Group brokered the transaction.
Neighbouring properties to Frasers Property Industrial’s 4Ten Epping include Melbourne’s Wholesale Fruit and Vegetable Market and large land occupiers such as Mainfreight, Mission Foods, Chemist Warehouse, Visy Australia, Coles, Bluestar Global Logistics, Linfox and Toll Group.
1 The expected completed end value of 4Ten Epping is A$306.5 million and includes expected land sales revenue and built form.