Goodman poaches another Laverton business for new industrial estate
Provincial Home Living, owned by the Pausewang family, which also co-found Smiggle, has pre-committed to a Truganina distribution centre to be delivered by Goodman.
The retail giant will upsize to the 22,320 square metre office/warehouse consolidating from Laverton North and an overflow facility at Altona.
Completion of the Evolution Road property within the 88 hectare RBR Hub, which launched in February, is expected early next year.
Though rents haven’t been disclosed, new space in the suburb commands $105-$125 per sqm net with minimal incentives, CBRE’s Todd Grima, who represented PHG with Harry Kalaitzis, said.
Truganina is 22 kilometres west of Melbourne’s CBD.
RBR Hub poaches another Laverton North business
To be delivered in stages, RBR Hub will be a 24/7 business park with retail and parkland.
With significant frontage to Riding Boundary Road – currently being extended from Hopkins Rd – it will have three signalised intersections; the estate also fronts Troups and Mt Atkinson roads.
Goodman is marketing its convenience – within an hour drive of a 3.7 million person catchment.
The PHG property will neighbour a 115,000 sqm distribution centre and state sales office which Sydney based Metcash pre-committed to last year for its food and liquor division (story continues below).
Scheduled to open in the second quarter of next year, that warehouse’s end value is speculated will circle $300m.
Coincidentally the retailer will also relocate from (four warehouses in) Laverton North, the next suburb east of Truganina, and Laverton.
Metcash is also behind a 50,000 sqm project in Ravenhall, seven kilometres north of Truganina, to service its Mitre 10 arm.
Deal marks growth: PHG
Established in Wangaratta in 2002, PHG now operates from over 35 stores nationally.
“With vacancy rates at 1.1 per cent – an all time low in Victoria – and extended construction timelines for new buildings, it was crucial that we commenced the procurement process with a significant amount of lead-up time to ensure we captured all existing speculative developments and pre-lease opportunities,” Mr Grima said.
“PHG is a brilliant Australian business and its terrific to help play our part in their growth journey,” he added.
PHG head of Property, Simon Simmonds, said the deal marks a milestone in the company’s expansion plan.
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