The 2023 prime industrial leasing market has moved ahead of what was considered its peak in 2022 said JLL Victoria Senior Director, Logistics & Industrial Simon Wellock.

He said the manufacturing and technology sector was growing rapidly, particularly in the high-tech end of the market.

“With two high profile commitments from Bowen Group and AEV Australia, Caribbean Park has reaffirmed its status as the largest and fastest growing business address and one of the most sought-after industrial estates in Melbourne’s southeast,” Mr Wellock said.

Bowen Group secured 11 Dalmore Drive, Caribbean Park in a highly competitive campaign.  The 6500 sqm building will be home to Bowen Group, long term, on terms reflective of a market with limited quality supply.

High-tech AEV has secured a 7000 sqm warehouse at 12 Lakeview Drive, Caribbean Park.

The manufacturer of automated electric vehicles using automotive innovation, software development and deep robotics capability to improve global transport solutions, AEV has secured a long-term position and joins the Caribbean Park stable of leading companies.

JLL Research found Melbourne’s South East recorded rental growth of  6.1% q-q for Prime and 11.4% q-q for Secondary.

“West and South East precincts in Melbourne have recorded between 30% and 35% rental increase over the last 12 months, on average, with marginally stronger growth in secondary stock,” JLL Research found.

To request a lease analysis please contact the leasing agent, JLL Victoria Senior Director, Logistics & Industrial Simon Wellock via the below contact details.