Melbourne, 02 February 2015 – Oxford Cold Storage will unlock the unprecedented level of investor demand for Australian industrial assets, with the sale and leaseback of its Laverton North estate in Victoria – the largest refrigerated logistics footprint in Asia Pacific.
Located at the corner of Doherty’s and Hume Roads, the expansive 24 hectare site has been developed in stages by leading builder Vaughan Constructions and currently provides more than 120,000 square metres of buildings, with capacity for further expansion. The Estate is being offered for sale with a 20-year triple net lease to Oxford Cold Storage.
Oxford Cold Storage is Australia’s leading provider of third party temperature controlled warehousing. The family owned and operated company has been providing cold storage services to Australian manufacturers since 1975. The Laverton North facility provides centralised, national warehousing services to more than 80 local, national and multi-national clients in the food industry.
The substantial offering comprises a strategically located infill site incorporating 14 temperature controlled warehouses, two conventional warehouses and various support buildings, as well as extensive concrete paved driveways, hardstand and car parking areas. The transaction is expected to generate interest in the order of $250 million.
CBRE’s Chris O'Brien, Matt Haddon and Rory Hilton have been appointed to steer the Expressions of Interest campaign.
Mr O'Brien said it was an optimum time to be selling the facility, given the current strength of demand for industrial assets.
“Australia is continuing to attract unprecedented levels of interest from both local and offshore investors looking to inject substantial capital into the industrial sector,” Mr O'Brien said.
Mr Haddon said the opportunity for investors to gain exposure to substantial infrastructure-type assets of this nature and scale was rare.
"Investors have become particularly attracted to the Refrigerated Logistics sector, as replication of competing product is limited,” Mr Haddon said.
“This sale represents a unique opportunity to acquire the largest single cold storage estate in the Southern Hemisphere and one of the most substantial on a global scale. There won't be another one of these popping up nearby any time soon," Mr Haddon said.
The state of the art operation has been the focus of continued technology development and, as a result, is a highly regarded facility within the industry, accommodating approximately 800 truck movements daily and employing in excess of 400 people.
Mr O'Brien said the Oxford Cold Storage facility benefited from a strategic location in Melbourne’s key road transport hub.
“Located in the established and highly regarded industrial precinct of Laverton North, the property is also situated in close proximity to major transport routes including the Princes Highway, Western Ring Road and the West Gate Freeway,” Mr O'Brien said.
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