Leading furniture and homewares retailer Provincial Home Living has secured a warehouse at a brand-new West Melbourne facility with Australia’s largest industrial landlord, Goodman.
Provincial Home Living secured the 22,320 sqm office warehouse on Evolution Road, Truganina as part of the company’s national expansion plan.
The site will adjoin the new purpose-built 115,000sqm Metcash Distribution Centre due for completion in Q2 2024. Rents in the area vary from $105 – $125 per sqm net.
CBRE’s Todd Grima and Harry Kalaitzis negotiated the deal on behalf of Provincial Home Living.
“With vacancy rates at 1.1%, an all-time low in Victoria and extended construction timelines for new buildings, it was crucial that we commenced the procurement process with a significant amount of lead-up time to ensure we captured all existing speculative developments and pre-lease opportunities,” Mr Grima said.
“Provincial Home Living is a brilliant Australian business and it’s terrific to help play our part in their growth journey,” Mr Kalaitzis added.
Provincial Home Living’s Head of Property Simon Simmons added, “We are excited about the forthcoming phase of growth for Provincial Home Living, this new distribution centre marks a significant milestone in the expansion of our business.”
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