Party supplies giant rents ex-Woolworths distribution centre
London stock exchange listed IG Design Group, holding the local licence to sell, amongst other brands, Barbie, Disney, Marvel, Thomas & Friends, Toy Story and Star Wars party supplies, has leased a major Melbourne distribution centre once occupied by Home, Timber & Hardware.
The tenant, which in 2007 acquired a half share of the company then known as Artwrap, then rebranded, has leased 98-126 South Park Drive, Dandenong South, for an initial 10 years.
Developed in 2006 by Frasers Property Industrial, still the manager for the Singapore listed Frasers Logistics & Commercial Trust, the standalone facility contains 27,900 square metres, with an 11 metre clearance and multiple at-grade roller shutter doors and docks.
On 4.96 hectares, there are also 168 car parks.
Major industrial deal
The Dandenong South warehouse is occupied by JTC and Border Express, which moved in five and a half years ago following a Woolworths assignment managed by Savills; the property was previously tenanted to Home which the retail giant sold to Metcash in 2016 (story continues below).
The lease kicks in next January following a capital works program adding a 200kw solar power system.
The deal comes three months since Cabrini Health’s technology division, Alter, leased a 6651 sqm office/warehouse in the suburb, consolidating from two Mount Waverley addresses.
Pellicano constructed that asset, 930-940 Taylors Rd, within the M2 Business Park, speculatively, in 2017.
That landlord also, in 2022, acquired the suburb’s ex-Lunar Drive-In, on 5.9ha, for c$40m as an industrial play.
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