people in hairnets looking at food on conveyer belt
Image – Canva.
  • Multiple food related leases within the past month
  • Cold storage vacancy rates less than 1%
  • Some Melbourne industrial real estate vacancy rates at 0.27%

Industrial real estate remains a hot sector, Centuria Industrial REIT (ASX: CIP) recently released its latest portfolio valuation, up by almost $300 million again to $2.9 billion.

Earlier in the year, the market even recorded vacancy rates as low as 0.27% in parts of Melbourne.

The Property Tribune reported that industrial remains one of the most attractive classes of investment, and in recent times that continues to be the case.

Food

Expectedly, distribution centres have seen an upswing in activity, with the supermarket players all remaining some of the biggest players in the online space.

In March, Woolworths announced it will create new distribution centres in Queensland, and Centuria signed Woolworths on for another five years at a New South Wales distribution centre in May.

The news

Savills recently announced a Morningside property was leased out for five years.

7/109 Riverside Place is a cold storage location that was in high demand, vacancy rates for quality frozen and chilled premises, according to Savills, was almost as cold as the facility – less than 1%.

“MRC Ventures, who distribute coconut based food products, has secured the space as it allowed their strong forecasted growth and to set up their new wholesale and retail ventures,”

Shaw Harrison, Director, Industrial and Logistics at Savills Australia

The property is capable of -21 degrees storage, and is being leased at $300 per square metre, amounting to $84,000 gross per year.

CBRE today announced Pinnacle Packaging, a food packaging company, signed a lease also in Melbourne, but located in the suburb of Altona.

VIC_IND_14 Marshall Court, Altona
14 Marshall Court lease to Pinnacle Packaging in Altona. Image – Supplied.

14 Marshall Court is expecting to generate $320,000 in annual rent, the property is 6,340 square metres, and includes a 3,959 square metre warehouse.




You May Also Like

“Sydney setting the pace”: CBD office rents march higher

Cushman & Wakefield’s quarterly Office Marketbeat reveals 2.9% quarter-on-quarter uplift in Sydney

Canberra office market shows impressive resilience and growth

The market is underpinned by low vacancy, large developments in the pipeline and strong rental growth

Accenture and Lendlease to expand data insights platform

The platform which uses AI and virtual reality will be expanded to increase digital and in-store visits.

Demand for life science assets on the rise in Australia

Australians are getting older and this is contributing to the increase in demand for life science assets across Australia

Experts Corner by The Property Tribune

Ko & NPA partner to launch several co-owned luxury properties at Mermaid Beach, Gold Coast

Ko's partnership with NPA Projects provides more opportunities to co-own off-the-plan holiday residences, including exclusive Gold Coast properties

Continue reading

Top Articles

Perth property market: The definitive guide to buying a modular home

Modular homes, misunderstood as inferior, offer efficient, durable alternatives to traditional construction methods.

The 50 square metre solution getting people into their first homes and delivering an answer to ...

Small, modular homes could be a key part of the broader solution to Western Australia's current housing challenges.

The hardest time ever to buy a house in Australia: How Australian home buying got ...

We're currently in a buyer's market, but that doesn't mean Australian house prices are crashing.