Carve up of Peters Ice Cream Site

14 June 2019

The Peters Ice Cream site in Wellington Rd Mulgrave is finally set to be developed with a deal announced by Frasers and ESR to acquire a 4.67ha portion of the site for $15M. The vendor, Charter Hall acquired the larger 15ha site in a sale and leaseback deal with Peters Ice Cream in 2014 for $62M. Charter Hall subsequently obtained development approval for the development of 4 commercial buildings across the site totalling 60,000sqm with 2,497 car space and a heritage listed office building retained and re-used. The deal with Frasers and ESR comes just as Nissan confirmed their commitment to occupy 63% of Building 1 which will comprise 17,393sqm in total over 8 storeys. Frasers and ESR are considering a quick re-sale of Building 1, appointing JLL to market the office asset. Charter Hall continue to hold the balance of the site which Peters Ice Cream continue to utilise. Location Plan: #Development #Frasers #ESR #CharterHall