Anchor Tenants Announced for Alliance Business Park
MAB lures Mainfreight, Campagnas to business park
Published in the Australian Financial Review by Larry Schlesinger on 4 February 2015
Listed New Zealand logistics group Mainfreight will build its Australian training facility on an 11-hectare site bought for more than $20 million at MAB Corporation’s Alliance Business Park in Epping in Melbourne’s north.
Construction of the training facility, as well as two other commercial buildings of about 40,000 square metres in total, is due to start in weeks.
In another deal on the 60-hectare site, MAB Corporation has sold an 8059 sqm site for more than $1.5 million to fruit and vegetable wholesaler Rainfresh, run by the well-known Campagna family. Construction will also begin in coming weeks.
Land in the business park is priced from about $280 per sqm for lots up to 1250 sqm and $200 per sqm for lots of two hectares or more.
The business park is next door to the new Melbourne fruit and vegetable market which is due to open in mid 2015 and is connected to the Hume Freeway via the Cooper Street interchange.
Another freeway interchange on the park’s northern border at O’Herns Road has been promised by the Victorian government as part of plans to create a new employment zone.
Other food-related businesses that have taken sites in the business park include wholesaler VB Fruit and food manufacturer Edlyn Foods.
The privately owned MAB Corporation began developing the business park in late 2012. More than 50 per cent of the estate is now sold. It is due for completion in three years.
“The location has huge appeal,” said development manager Michael Martin. “Being a stone’s throw from the front door of the Melbourne market is the main drawcard for wholesalers and businesses that service the fruit and vegetable market We see the demand from this sector continuing.”
Stage four of the park is now selling ahead of schedule.
Being a stone’s throw from the front door of the Melbourne market is the main drawcard for wholesalers and businesses.