The first stage of what is set to become Gippsland’s largest industrial and commercial estate, ICON Morwell, has been brought to market by Colliers’ Gordon Code, Sam Hibbins, Luke Lowden and Fraser Pearce in conjunction with Rennie Property Sales’ Peter Rennie and Mary Ioannou on behalf of Homeington Building Group.

ICON Morwell is located at Princes Drive and Alexanders Road, Morwell. The 100-hectare industrial and commercial estate encompasses industrial developable land, a 10-hectare mixed-use commercial and retail centre, a petrol station and expansive parkland.

The Stage One Industrial Land Release comprises 14 lots sized between 1,012sqm to 19,672sqm, offered for sale via price list with prices ranging from $137/sqm to $385/sqm.

Colliers Associate Director Sam Hibbins said, “ICON Morwell offers a wide range of industrial lot sizes suited to various industry types, and we expect strong interest from both small, mid and large-scale occupiers and investors.”

“Morwell is the commercial centre for the City of Latrobe and one of Gippsland’s largest regional precincts, but has been starved of new industrial development, and this estate will cater for the increased activity from major projects centred around the Latrobe Valley.”

“This includes the multiple renewable energy projects, Latrobe Regional Hospital upgrades and infrastructure and facility upgrades to accommodate the 2026 Commonwealth Games, all of which are expected to bring investments beyond $5 billion and employment for more than 5,000 people to the Victorian state,” said Mr Hibbins.

ICON Morwell is strategically positioned in a central Gippsland location, making it an ideal estate for businesses seeking to be placed along the Princess Freeway (M1) and within proximity to all major South East regional cities.

The South East industrial market has been one of the most active industrial markets in the country for leasing activity over the past three years, underpinned by the heightened levels of occupier demand, facilitating new supply and market expansion.

Colliers Associate Director Luke Lowden added, “Interest in the estate to date has been mixed between local occupiers and broader national occupiers plus investors seeking to cement their position the South East’s newest industrial estate.”

“With substantial land price escalation in core South Eastern industrial locations, businesses and investors are seeking opportunities in growth markets to assist with their continued expansion with cost-effective benefits,” Mr Lowden concluded.