08/02/2000 | Vaughan Constructions | Industrial
Vaughan shaves 5% off industrial development costs at new estate
The 26.4 hectare Glengala Industrial Estate will further cut development costs by offering 45 lots with planning permission in place and the option of turn key development packages.
The concept is designed to minimise holding costs on projects which can add up to 5% to development charges.
The $25 million estate in Fairbairn Rd, Sunshine will offer sites from $50 sqm aiming to attract the medium sized inner city industrial market in the Port Melbourne area.
Vaughan Constructions Marketing Director, Mr James Permezel said that rather than selling sites Vaughan will also be selling development packages based on building size with an average size of around 2500 sqm.
“We have taken the “turn key” approach to Glengala and aimed it squarely at the middle of the market current being squeezed of the high cost inner city markets,” said.
He said the Glengala Estate would offer investors and tenants a rapid development turn around by providing pre-approved planning envelopes.
“Purchasers will be able to tell us what building size and use they require and we will place their requirement into the pre-existing template approved by council.
“Through this we will save clients on average 8 weeks on the normal turn around from signing the contract to them relocating into the new premises,” Mr Permezel said.
He said the certainty and short lead time offered to businesses moving to Glengala Industrial Estate would also save them money.
Preliminary planning and site holdings costs for an industrial building project can total as comprise as much as 5% to the final project cost – this can be significantly reduced by buying a site with planning in place.
The individual building footprints on the sites will provide planning certainty for specific building size, height limits and zoning controls.
Tenants will be offered a variety of pre-drafted building forms that can be individually tailored to their needs.
“The pre-planning of the estate will also allow Vaughan to control the built environment and allow purchasers the security of knowing the neighbouring buildings will be of similar quality and use,” he said.
“The Glengala Industrial Estate is just 10 minutes from the city and offers much greater business efficiencies at a far lower cost than areas such as Port Melbourne,” he said.
Mr Permezel said the Sunshine area would continue to grow while Port Melbourne land sold for $300 sqm.
“The Sunshine area will become the new inner city in the next 3-5 years,” Mr Permezel said.
He said Melbourne’s Western industrial market is still growing rapidly on the back of the Western Rind Road and a shortage of land in the inner suburbs.
Mr Permezel said people are also securing land before the GST is introduced.
The Fairbairn Estate is 500 metres from Vaughan’s $43 million Adams Estate which sold-out six months after its 1999 launch.
William Adams (CAT) is the anchor commitment at the $43 million estate on the Sunshine/Laverton North border.
Both estates offer access to the Western Ring Road and excellent access to the CBD, airport, railheads and ports.
C.B Richard Ellis and Colliers Jardine will market the Glengala Industrial Estate.