265 Dandenong Hastings Road encompasses 62.3ha
Global pension capital investor IFM Investors has marked a major milestone across one of the largest industrial sites in Melbourne, achieving a planning permit approval for Stage 1 of its 62.3ha, $1.1 billion project 265 Dandenong Hastings Road.
The planning approval, which comes just six months after the plans were submitted, will mark the first stage of the project.
When complete, 265 Dandenong Hastings will feature 20 warehouses ranging from 7,000sqm – 80,000sqm+ delivered across three stages, with gross total floorspace yield of approximately 281,000sqm of built-form warehouse and ancillary office.
Across the construction phase of five years, the development is expected to create 3,090 full time equivalent (FTE) jobs – 1,030 direct and 2,060 indirect – and contribute over A$490 million in economic value.
Works are expected to commence on-site in early 2026, with leasing due to commence in Q1 2026.
The site will support an anticipated 2,370 FTE jobs on an annual basis once operational, inclusive of 1,250 direct FTE roles, adding $433.8 million in value to the economy each year.
The project is targeting a 5-Star Green Star Buildings rating, and will feature solar PV systems, rainwater tanks and EV charging, with recycled materials used where possible, culminating in an estimated 10 per cent reduction in embodied carbon.
Quotes attributable to IFM Investors Project Director (Industrial), Matthew Cox:
“This is the largest industrial project we’ve undertaken in recent times. The potential positive impact it will have on Victoria’s industrial market will be immense – projects of this scale rarely come on-market, and we’ve already had strong interest from a pre-leasing perspective.”
“A project like this is a win-win – delivering much needed industrial facilities and creating jobs and economic growth, while helping us deliver long-term risk adjusted returns for our clients and the millions of working people they represent.”
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