Pacific Brands subsidiary and pillow manufacturer, Tontine Group has signed a deal to relocate to MAB Corporation’s National Business Park in Campbellfield.
The deal involves the construction of a 16,500 m2 office and warehouse facility, the largest development of its kind to be undertaken by MAB Corporation.
With an end value of around of $20 million, the transaction represents MAB Corporation’s largest pre-commitment to-date.
According to MAB Corporation’s General Manager Business Parks, Mr David Hall, National Business Park has been an outstanding success.
“Land sales have been consistently good from the outset, with 90 percent of the estate having been developed and sold,” Mr Hall said.
“Key to the strategy of securing the deal was a decision by MAB Corporation to hold strategic parcels of land at the Business Park exclusively for added-value developments.
“To ensure we maximised the potential of the last 60,000 m2 of land, we decided to only make it available for organisations we believed would complement and add value to the overall development.
“Tontine was such an organisation, and fits well with other established Business Park organisations like prestige boat manufacturer Whittley Cruisers; Marbut Post Forming Group; Govan Industries; Australian Brushware Corporation; Steeline; and Thomas Warburton.”
The Tontine deal includes a 10-year lease of the new building, and will sit on a 34,000 m² site at the corner of National Boulevard and Link Drive. It is anticipated to have an end value of around $20 million.
The Tontine Group will be relocating from its long time headquarters in Nicholson Street, East Brunswick, with the property believed to be earmarked for a major redevelopment by its current owner.
National Business Park is located just off the Hume Highway, providing easy access to the Western Ring Road, CityLink and Melbourne Airport. Access to Melbourne’s road networks and the Eastern Seaboard has been further enhanced with the Craigieburn by-pass.
There still remains 30,000 m2 of land available, which Mr Hall believes will accommodate another 15,000 m2 of buildings.
“National Business Park provides a high quality work environment and has received many awards for its design and quality – something we strive to maintain,” Mr Hall said.
“The exceptional standards of product we have already delivered will continue for any further developments undertaken at the Park.”
MAB Corporation is an established developer in Australia and currently has over $1.5 billion in projects completed or commenced, including the $1 billion landmark NewQuay development precinct at Docklands, the $1 billion University Hill mixed-use development, Global Business Park, Northcorp Industry Park, Translink Business Park and a host of other award winning developments.
With a proven track record in the design and delivery of award-winning Business Parks, MAB Corporation is perfectly placed to deliver a new generation of business parks including the National Business Park.