Strategic location and premium facilities drive leasing success in Melbourne’s west.
Colliers and JLL have secured two tenants for Stockland’s brand new speculative development, the Altona Industrial Estate, which recently celebrated its official opening. The warehouses located at 40 Slough Road and 30 Slough Road in Altona received strong interest and were snapped up before practical completion.
The 7,924 sqm WH1C warehouse was secured by ASX-listed company MotorCycle Holdings Limited, while Comcater, a leading commercial kitchen expert and provider, committed to WH1D, covering 6,643 sqm. The transactions were facilitated by Colliers’ Charlie Woodley and Hugh Gilbert, with JLL’s Ilia Karageorgiou and Sandy Ng involved in securing the tenant for WH1D.
Charlie Woodley, Colliers Associate Director | Industrial & Logistics, said, “Colliers managed two separate briefs for each occupier in Q4, 2023, resulting in an array of proposals from landlords with existing and upcoming leasing opportunities. Stockland participated in the process and provided each occupier with a leasing proposal for their Altona Industrial Estate.”
“At that time, the construction of Altona Industrial Estate was in its early stages. Given the time each occupier had with their respective lease expiries, we continued to workshop ideas of opportunity.
Altona Industrial Estate was strongly considered by each occupier when the estate started taking shape, with Stockland building a premium product and targeting a 5-star Green Star rating,” Mr Woodley added.
Having reached practical completion, the master planned redevelopment of Altona Industrial Estate has only one tenancy remaining of approximately 8,000sqm with interest from numerous occupiers.
MotorCycle Holdings Limited and Comcater join a diverse mix of tenants, which also includes Putzmeister, a global leader in construction machinery and equipment; Krannich Solar, an international renewable energy company; and Pony Xpress, a family owned and managed agricultural product distribution company.
Altona Industrial Estate is strategically located within Melbourne’s inner-western logistics corridor, benefiting from proximity to key arterial road links including the Princes Freeway, Westgate Freeway, and Western Ring Road. The location offers excellent connectivity to the Port of Melbourne, Melbourne Airport, and the CBD, making it an ideal hub for logistics and distribution.
The estate features multiple roller shutter doors, recessed loading docks, large super-awnings, internal clearances of 10.6 metres to 14.6 metres (ridge height), a targeted 5-star Green Star rating, corporate office and staff amenities, large dock offices, and architecturally designed buildings and landscapes.
Hugh Gilbert, Colliers National Director | Industrial & Logistics, added, “Economic conditions have significantly influenced leasing activity in Melbourne’s west. During 2021 and 2022, low interest rates and heightened economic activity drove average annual leasing volumes to circa 900,000 sqm. In contrast, 2023 and 2024, characterised by high interest rates and inflation, have seen a sharp decline, with annual volumes closer to 600,000 sqm.
“However, with a continuing positive outlook and rate-cut relief not too far away, we are seeing a shift in the market’s overall sentiment, and are optimistic that 2025 will bounce back to near similar levels that we experienced in 2021 and 2022.”
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