Visy will relocate from its current logistics centre to a new supply chain facility within the Biodiversity Business Park in Epping, Melbourne.
Visy has signed a 10 year lease for a 34,777sqm site in Epping, Melbourne, relocating from CPIF’s Somerton Logistics Centre. The facility will be an integral part of its supply chain from March 2021.
The property is situated in the core industrial precinct of Epping within the Biodiversity Business Park, which is strategically located within close proximity to Melbourne’s wholesale fruit, vegetable and flower market, approximately 18 kilometres north of the Melbourne CBD, 31 kilometres north of Port Melbourne and 20 kilometres north-east of Melbourne Tullamarine Airport.
Visy’s Group General Counsel, Robert Kaye, said that Visy is excited to be partnering with Charter Hall in creating another state of the art facility.
“The Epping facility will be an integral part of our supply chain, so having the right expertise and responsiveness from our partners is vital to achieving our objectives,” he said.
Charter Hall Group announced that its largest industrial fund, the $5.8 billion wholesale Charter Hall Prime Industrial Fund (CPIF), has secured a 6.45 hectare site in Epping and agreed to a 34,777sqm pre-lease to Visy Logistics.
“Charter Hall was able to leverage its scale and flexibility to deliver a smart, long-term solution to Visy allowing their business to grow. We look forward to expanding the Visy relationship,” Charter Hall’s Chief Investment Officer, Sean McMahon, said.
“The development of this significant facility for Visy adds to CPIF’s high quality and resilient portfolio, whilst providing enhanced returns for our investors and increasing our pre-committed development pipeline to over $1 billion,” CPIF Fund Manager, Richard Mason, said.