MAB adds Epping site to growing industrial portfolio
Leading Victorian property developer MAB Corporation has announced an industrial acquisition in Epping today, adding to its growing portfolio.
The 62 hectare site on O’Hern’s Road, Epping in the City of Whittlesea is the largest industrial land sale over the past two years and will add to MAB’s commercial and industrial projects, now totalling nine developments across Victoria.
The property was sold by Lincoln Reynolds and Robert Butera of Jones Lang LaSalle, in conjunction with Sutherland Farrelly.
MAB General Manager Commercial and Industrial Richard Johnston said the Epping acquisition highlights the organisation’s growing focus on the sector, in particular its continued interest in the northern corridor.
“We have a proud history of more than 16 years in industrial developments,” Mr Johnston said. “With confidence in Victoria’s industrial sector on the rise, MAB is committed to providing high quality developments to meet the growing demand.”
The Epping site is located within the Cooper Street Employment Precinct, adjoining the Hume Freeway to the west and in close proximity to Epping Plaza and the Northern Hospital.
“We are delighted to associate ourselves again with the job focussed City of Whittlesea, who has planned the Cooper Street Precinct over many years,” said Mr Johnston.
It is estimated that approximately 4,000 new jobs will be created by the development, providing solid growth for the north.
“With great infrastructure and transport links, the site is an attractive option, particularly for businesses associated with the Melbourne Wholesale Markets,” said Mr Johnston.
MAB is working with the City of Whittlesea to commence development. “Planning approvals are anticipated in early-mid 2012, with construction to start shortly after,” said Mr Johnston.
In addition, MAB’s commercial and industrial projects include:
- NewQuay, Docklands – a Melbourne landmark comprising 25 restaurants, cafes and bars; a public promenade; 50-berth marina; six residential towers, community facilities and commercial offices
- University Hill, Bundoora – mixed use developing including a 22 hectare business park
- Merrifield, Mickleham – a joint venture between MAB and Gibson Property Corporation. A 1,000 hectare mixed-use site in Melbourne’s north
- ExpressWay, Port Melbourne – 3 hectare service station and convenience shops/restaurant development
- Industry Business Hub, South Melbourne – 8224sqm of studio warehouses targeting media production companies, warehouse and showroom occupants
- Meridian Business Park, Thomastown – 23 hectare business park (project almost completed)
- Orbis, Ravenhall -34.5 hectare business park
- Translink, Keilor Park – 75 hectare business park (project completed).