Stockland and Mt. Atkinson Holdings has officially launched the first stage of Melbourne Business Park.

With an estimated $2 billion end value once fully developed, the 260-hectare logistics and business project is set to become the largest industrial project in Melbourne’s fast-growing western suburbs. 

Situated about 25 kilometres west of Melbourne’s CBD in the suburb of Truganina, the 95-hectare first stage sits adjacent to Stockland’s Mt. Atkinson master-planned community, currently under development. 

Stockland Group Executive and CEO of Commercial Property, Louise Mason, said the project aimed to capitalising on the strength of Melbourne’s growing population in the western suburbs.

"This project will help fuel the strong demand for industrial land," she said.

“As announced at our 1Q20 results, the Workplace and Logistics sector continues to drive significant growth for the Commercial Property portfolio.

"Our pipeline now totals over $2.5 billion, and continues to perform strongly as we up- weight our exposure to this asset class through development and strategic acquisitions which reflect forecast total returns above our investment hurdle rates”. 

Melbourne’s Western Growth Corridor has experienced unprecedented growth over the last decade, and the upward trend is projected to continue with the total population in the Melton LGA set to reach 254,095 by 20291. 

The $190 million first stage of Melbourne Business Park has already generated strong interest, with Stockland accepting offers on 11 lots.

A further five industrial lots ranging in size from 1.2 hectares to 3.2 hectares will be released today targeting owner-occupiers and investors with consolidated super lots also available. 

Stockland General Manager, Workplace and Logistics, Tony D’Addona, the goal was to have subsequent stages developed by Stockland and Mt Atkinson Holdings with a view that the majority of the subdivided lots will be held by the joint venture partners. 

“This innovative business precinct will provide significant owner-occupier and pre-commitment opportunities for local, national and international businesses," he said.

“We are expecting strong interest from growth businesses particularly eCommerce and third-party logistics industries who are looking to upscale or establish their industrial footprint in Melbourne."

Melbourne Business Park is close to road and rail connections, located on Hopkins Road two kilometres off the Western Highway diamond interchange, and 30 kilometres to the Port of Melbourne.

The area is flagged for significant freight and logistics infrastructure investment and is in close proximity to the planned future Outer Metropolitan Ring Road, and Western Interstate Freight Terminal. 

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