Colliers, on behalf of a valued vendor, effectively completed three leasing transactions at a prominent Airport West asset, securing a rent uplit of 60% since 2021 which translates into an excess of $1,150,000 per annum net for an expansive building area of 6,649 sqm settled on a land area of 23,460 sqm.  

Located on 71 Matthews Avenue, Airport West, the asset benefits from approximately 110m frontage to Matthews Avenue including clear exposure to the Tullamarine Freeway, indicating an ongoing exposure of 132,000 passing vehicles daily.  

Colliers Industrial & Logistics experts Mitch Purcell, Nick O’Brien and Corey Vraca managed the triple  leasing. The leasing process had a sharp focus on strategic collaboration and expert utilisation of the  collective Colliers’ expertise to maximise client value. 

Colliers’ Logistics and Industrial Associate Director Mitch Purcell commented, “Our network is vast and reliable. Thanks to a diversified approach composed of industrial brokerage allied with large format retail expertise, we then discussed with groups of local occupiers facing lease expirations while strategically targeting key sectors, notably the automotive industry prevalent in the Airport  West catchment area,” 

“Concurrently, our large format retail specialists engaged national and multinational retail giants,  adeptly showcasing the property's unparalleled exposure along Matthews Avenue as an enticing  opportunity for expansion. This cohesive partnership between the service lines ensured that our  client received the best possible outcome, as the combined efforts of the industrial and retail teams maximised the property’s potential and delivered exceptional results,” Mr Purcell added.  

As a result, the property is now fully occupied (0% vacancy), with a substantial value uplift. This case study solidifies Colliers’ position as a trusted advisors in the real estate landscape.