The next stage in a major industrial land development in regional Victoria’s Gippsland has been launched to the market as the project unveils a revitalised and expanded masterplan.
Icon Industrial is a 100-hectare masterplanned precinct at Princes Drive in Morwell, providing a rare opportunity to secure large-scale industrial land in the heart of Gippsland.
Upon completion, the project is expected to accommodate 125 industrial lots, with the revitalised and expanded masterplan, which includes a lot reconfiguration, also incorporating a commercial centre super lot which will include a petrol station, as well as 12 hectares of parkland. The project has an estimated end value of circa $130 million.
The revitalised and rebranded project, which is being led by Whiteman Property & Associates as development managers, is now selling industrial land in stage 3.
Winslow Constructors are engaged as Civil Contractors, and construction of the first two stages is now well underway following the sellout of the 24 lots offered to the market.
The 12 lots in Stage 3 range in size from 1,857sq m to 15,860sq m and are priced from $464,250 (or $250/sq m).
The precinct is being marketed for sale by Knight Frank agents Josh Burne, Adam Athorne, Chris Bolsin and Nathan Edgar, in conjunction with Stockdale and Leggo Morwell agents Jim Demetrios and George Demetrios.
Positioned along the Princes Freeway (M1) within the Latrobe Valley’s established commercial and industrial hub, Icon Industrial is set to become the region’s largest new industrial precinct, catering to owner occupiers, developers and investors seeking scale, connectivity and long-term growth potential.
Icon Industrial will deliver a diverse range of industrial lots, from smaller parcels suited to small to medium businesses through to substantial landholdings capable of supporting major manufacturing operations for multinational brands.
Wide internal roads allow for efficient heavy vehicle circulation, while expansive hardstand areas have been incorporated into the masterplan to allow for ample storage for trucks, containers, equipment and large operational assets.
Icon Industrial is strategically located with direct access to key freight and transport routes, providing efficient connectivity across Gippsland and to metropolitan Melbourne via the M1 corridor. Major regional centres including Traralgon, Sale and Warragul are all within close reach.
Mr Burne said Icon Industrial responded directly to a growing shortage of serviced industrial land across Gippsland.
“Following the sellout of land in the first two stages offered to the market, we expect strong demand for the new lots released in Icon Industrial,” he said.
“We are excited to be launching Stage 3 to the market, with a revitalised masterplan and branding.
“The precinct is starting to take shape, with construction now well underway and key construction approvals having recently been secured, and we expect this to generate even more interest amongst prospective buyers.
“Industrial land of this scale is becoming increasingly difficult to secure across regional Victoria.
“Icon Industrial introduces a completely new benchmark for Gippsland, offering businesses the opportunity to secure well located, masterplanned industrial land in a region undergoing significant economic transformation.
“The flexibility of lot sizes, combined with excellent freight connectivity and future growth prospects, makes this a compelling proposition for both owner occupiers and investors.”
The Latrobe Valley is currently experiencing a significant economic transformation, underpinned by multi-billion-dollar government and private investment. Renewable energy projects, advanced manufacturing, infrastructure upgrades and a strengthening regional workforce are attracting investment at a scale not seen in decades.
Hydrogen, battery, solar and energy-from-waste projects are reshaping the Valley’s economic
landscape and reinforcing demand for industrial land capable of supporting the next phase of regional growth.
Mr Bolsin said Icon Industrial was ideally positioned to capitalise on these tailwinds, and businesses that secured their position early would be well placed to grow alongside this new era of industry.
“Morwell has long been the industrial and commercial heart of the Latrobe Valley, and it is now entering a new phase of growth driven by large scale investment and emerging industries,” he said.
“Icon Industrial provides the platform for businesses to establish themselves early in a precinct that has been designed to support long term operational efficiency, expansion and performance.
“With direct freeway exposure and strong regional fundamentals, we expect strong interest from a broad range of industrial users.”
Icon Industrial is located within close proximity to significant new public and private investment, including the Latrobe Valley GovHub, Morwell Innovation Centre and major energy infrastructure projects, further strengthening the precinct’s long-term appeal.
Key surrounding businesses in the area include Opal, Energy Australia, AGL, McColls and Bega.
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