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MAB provides businesses a gateway to Melbourne with the launch of its latest business park

Business Parks

MAB provides businesses a gateway to Melbourne with the launch of its latest business park

MAB has revealed its latest business park offering, Haystone – located in the coveted Tullamarine precinct, north of Melbourne’s CBD and situated just minutes from Melbourne Airport offering unrivalled visibility from a constant stream of national and international visitors.

With a capital investment of +$500 million and estimated end of value of $1 billion, Haystone is set to launch in the third quarter of 2024 and forms part of MAB’s growing industrial portfolio of 21* business parks including the $8 billion Greater Avalon future development set to be Victoria’s largest business park.

The 38 hectare site will offer industrial lots for sale sized from 1,300m2 up to three hectares in one of the last remaining opportunities to secure prime industrial land within the Tullamarine precinct. In addition to land sale, Haystone will offer businesses the opportunity to purchase or pre-lease bespoke turn-key warehouses and manufacturing facilities.

As part of the development plan MAB will deliver a state-of-the-art stormwater bio retention system and expand the Moonee Ponds Creek Reserve with the creation of a new 3.57 hectare open space reserve, providing greater amenity for workers and the local community while protecting and enhancing the local environment.

Jamie Buxton, MAB General Manager Commercial and Industrial said, Haystone will provide a significant amount of state and regional employment land in a highly constrained industrial market, adjacent to Melbourne Airport while creating jobs and local business opportunities.

“Haystone will deliver a high-quality master-planned location for business and provides a new gateway to Melbourne, located in the heart of the Tullamarine precinct and within minutes’ drive from Melbourne Airport.  Our vision is to deliver a sustainable employment precinct with over 800 new jobs to be created.”

CBRE Director, Daniel Eramo said, “Haystone business park will provide an extremely rare opportunity for prospective owner occupiers and speculative developers to purchase freehold development land in one of Victoria’s most tightly held industrial and logistics precincts.

With a total of 3.33% of freehold industrial land undeveloped within the Tullamarine precinct, we anticipate strong levels of interest in the forthcoming opportunity” Mr Eramo added.

Savills Mario Moscon, Director Industrial and Logistics said, “Unlocking industrial land in Melbourne’s North, especially in Tullamarine, has become increasingly difficult. Less than 2.8% of Industrial land under 1 hectare remains undeveloped in Tullamarine and Westmeadows, compared to 12.9% across Melbourne’s Industrial North.

The forthcoming land release in Tullamarine is likely the last opportunity, promising long-term value appreciation due to these fundamentals.”

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*MAB industrial portfolio includes completed and future pipeline.