Colliers announce the successful lease of 27 Alick Road. Part of the Alick Road Distribution Centre, on behalf of Centennial. Located in Melbourne's inner west suburb of Tottenham, approximately 9km from Melbourne CBD, the 5,916 sqm industrial warehouse and office attracted a range of potential tenants, particularly those operating within the transport sector.

Nick Saunders, Colliers National Director | Industrial & Logistics, said, "The property presented a rare offering with features that specialised to the transport and logistics industry and was ultimately leased by Streamlined Logistics, who had been looking for a space to expand their overall operation and footprint in Melbourne."

The property was leased to logistics and supply chain management company Streamlined Logistics at a rate of $190/sqm, amounting to $1,124,040 per annum. Known for its expertise in integrated logistics solutions, Streamline Logistics specialises in transportation, inventory management, warehousing, and packaging, ensuring seamless and efficient operations for its clients, and were particularily drawn to the property's strategic location.

Given the proximity to Melbourne CBD and the rapidly expanding Melbourne Port operations, the site offers a unique opportunity for transport-related industries to save considerable transport costs and time for an array of business uses. Surrounding main arterials include Sunshine Road, Geelong Road, Princes Highway, Francis Street, and the West Gate Freeway.

Charlie Woodley, Colliers Associate Director | Industrial & Logistics, added, "Due to inflated land values and overall construction costs, assets of this low site coverage nature continue to be in high leasing demand and will always perform exceptionally well. The strategic location, proximity to the Port of Melbourne, and the overall property features further heightened this."

Centennial's Head of Portfolio Management, Nick Lidonnici, highlighted the property's achievement of a 55% increase in the passing rent, underscoring the resilience of Melbourne's industrial mid-space, infill sector, where demand for sites remains highly competitive.