10 February 2010 | Leighton Properties | Industrial
Leighton Properties gains approval for $500 million business park in southeast
Leighton Properties gains approval for
$500 million business park in southeast
MEDIA RELEASE 10 02 10 Leighton Properties (LPPL Vic) today announced it had the green light from the Victorian Government to commence a $500 million business park in Cranbourne West.
To be known as Xpress Park the business park will offer around 90 hectares of saleable land for industrial and business uses, with around half a million sqm of floorspace when it is completed. The park is part of the central employment precinct within a major Amendment (C102) approved on Tuesday 2 February by the Victorian Government.
“After a period of negotiating we are now commissioning the infrastructure for the 90 saleable hectare site with an anticipated commencement in the second half of 2010,” said LPPL Victoria Manager Mr Simon Lowe.
The massive site, with over 1.5-kilometre frontage and direct access to the upgraded Westernport Highway, is a unique opportunity for the logistics industry to secure a prime location on a broad-acre estate, 4 kilometres from the booming Dandenong South industrial market.
Mr Lowe said strong interest had already been received from the many small businesses in the 1500 sqm – 4000 sqm range, as well as from local developers catering to this buyer market. Xpress Park has the potential to house occupants up to 50,000 sqm, one of the few sites in the area offering large tracts of contiguous land.
Leighton properties purchased the site in 2007 and it has now been formally rezoned from Rural to “Urban Growth Zone” with the provisions of Business 3 being applied, meaning the land may be used for industrial and other employment purposes.
The business park will be the employment centre of a 900-hectare, integrated commercial and residential zone in one of Melbourne’s key growth corridors.
Mr Lowe said the Leighton Properties parcel offered over 1.5 km frontage to the Highway and an 800-metre frontage to Hall Rd providing a high profile for the site.
Mr Lowe said Leighton Properties intended to sub-divide the land and sell lots to developers or owner-occupiers. Lots will range from around 1,500 sqm to 10 hectares or more depending on market requirements.
“This location is perfect for a transport-based business as vehicles can travel from here to the NSW border with only one traffic light” Mr. Lowe said.
Mr Lowe said enquiry had thus far come largely from the local Cranbourne, Frankston and Westernport areas, with many business operators seeking to capitalise on what they see as the site's strategic location between existing and new customer bases.
For further details contact Edwina Molony of Leighton Properties. Ph: 03 9228 7032.