No thaw in cold storage demand as a 27,291sqm Oakleigh South freezer facility advances toward a late-2026 finish
The largest speculative cold storage facility in Melbourne’s East has been launched to market for lease, as demand for temperature-controlled logistics space continues to outstrip supply.
The 27,291sqm “Adapt” cold storage facility at 92 Carroll Road and 41 Cleeland Road, Oakleigh South is being jointly marketed by JLL and CBRE, with completion targeted for December 2026.
Developed by Hale Capital Partners, the facility can be leased as four separate freezer tenancies, ranging from 6,626sqm to 27,291sqm, or as a single integrated operation.
Built to full freezer specification (-22°C) with the ability to convert to chiller, the development has been designed to support high-volume cold-chain logistics, food distribution and pharmaceutical operations.
Nicholas Bradley from Hale Capital Partners said the project builds on the group’s conviction in infill logistics and cold storage as a long-term growth sector.
“This development has been designed to meet the evolving needs of cold-chain occupiers, with flexibility, efficiency and sustainability at its core,” he said.
“The decision to proceed on a speculative basis reflects our confidence in the requirements of the Melbourne market and the ongoing demand for freezer-ready infrastructure.”
JLL’s Stephen Adgemis said cold storage remains one of the most structurally undersupplied segments of the industrial market, particularly in infill locations close to population centres.
“This facility delivers scale, flexibility and outstanding capability, all within a highly strategic location in Melbourne’s inner south‑east,” he said
CBRE Senior Director David Aiello said with premium-grade, existing cold storage vacancy across Melbourne close to zero, Adapt presents an exceptional opportunity.
“The contemporary adaptive-reuse design delivers an average eave height of 12.5 metres, compared with 10.2 metres across Melbourne’s existing cold storage stock – while the location also provides significantly better access to labour resources & Melbourne’s residential population than many competing facilities.”
Located within the City of Kingston, the site offers direct access to the Princes Highway, Nepean Highway and Monash Freeway, placing around 40 per cent of Melbourne’s population within a 30-minute drive time. The facility provides more than 32,600 pallet spaces, 16 recessed docks, B-double drive-around capability and 166 car parks.
The development is targeting a 4-Star Green Star rating, incorporating solar PV, energy monitoring systems, LED lighting, rainwater harvesting and electric vehicle charging infrastructure.
According to JLL’s 2025 Victorian Cold Storage Overview Australia has 0.4 cubic metres of refrigerated warehouse capacity per urban resident, which is well behind the US (0.6) and Netherlands
(0.9). It’s estimated Australia will need almost 14 million square metres of extra logistics floorspace by 2030, and 750,000 square metres of that will be related to cold storage.
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