MELBOURNE, 2 JULY 2020

Frasers Property Industrial’s 23-hectare Braeside Industrial Estate in Victoria continues to attract publicly listed and global companies. ASX listed IVE Group Pty Ltd (IVE Group) is the latest company to secure a lease, which is its second in the estate.

PUMA, DKSH Pty Ltd and GALE Pacific Pty Ltd also recently moved into 30,717 sqm of state-of-the-art facilities in Braeside Industrial Estate.

IVE Group will occupy a gross lettable area of 6,915 sqm comprising a 6,436 sqm warehouse and 479 sqm mezzanine office as well as 62 car spaces. The seven-year lease has options for a further two five-year terms. IVE Group is relocating an existing division (IVE Display) from its current Sunshine facility to be closer to its current 14,000 sqm operation in Braeside Industrial Estate.

Anthony Maugeri, General Manager, Southern Region for Frasers Property Industrial comments, “Braeside Industrial Estate has drawn several major companies as a direct result of our proven track record in the South East, supported by tailored building designs and commercial terms.”

“The industrial market remains resilient in the current economic climate when compared to other property types. We are actively pitching to several businesses and seeking pre-commitments for the remaining six hectares on the eastern side. There has been a lot of activity, with some businesses benefiting from Ecommerce and the working from home movement, generating further interest in warehouse space.”

He added, “The rise of e-commerce has seen a shift from retailers operating out of physical shops to increasing warehouse space to accommodate growth in online shopping. Supermarket occupiers are also seeking short-term leases to fill additional needs. Several local companies are also looking at the onshoring of production to decrease reliance on overseas supply chains and inventory levels are being reviewed to ensure they have enough stock during times of change or emergencies.”

IVE Group anticipates to move into their new premises in October 2020, located at 3 Beyer Road, Braeside. Key features of the facility include a mezzanine office, 32-metre wide propped awning above on-grade doors, 10 metre springing height, LED high bay lighting and it is designed to achieve a 5 Star Green Star Design & As-Built v1.1 certified rating from the Green Building Council of Australia.

The company previously occupied a third facility with Frasers Property Industrial in Keysborough taking its total leasing transactions with the company to 27,848 sqm since 2014.

Braeside Industrial Estate has excellent linkages to and from the industrial park via a new signalised intersection on Governor Road, developed by Frasers Property Industrial. The estate also has good access to the Monash and East Link freeways and will be a major benefactor of the under-construction Mordialloc Bypass, earmarked for completion in 2021.

Mordialloc Bypass is a new nine-kilometre link between the termination of Mornington Peninsula Freeway and Springvale Road, Aspendale Gardens and Dingley Bypass, Dingley.

Gordon Fallance from GJS Property brokered the deal.