Booth site lease part of Melbourne trend: Colliers

Booth Transport leases former Kalari site after selling its Laverton home

By Ruza Zivkusic-Aftasi | September 13, 2013

Booth Transport has leased a site in Melbourne’s west after selling its Laverton home in response to the current economic climate.

It recently moved into Kalari Transport’s former depot at Fitzgerald Road after selling its 5.6ha site for $4.65 million to a private developer.

The company had planned to turn the facility into a depot but dropped its plans due to the economic climate.

Colliers International Director Stephen Newsham, who facilitated the lease, says a total of 126,000sqm has been leased in Melbourne’s industrial hub this year.

It is currently handling a whopping 270,000sqm of inquiry which indicates the market is moving towards rental.

"There has been a significant rise in companies asking for advice with regard to building availability, land pricing, incentives and sub-leasing," Newsham says.

"Despite a cautious approach being adopted by the majority, inquiry still remains strong and is improving, which is reflected in transactional volumes."

A strong demand in Melbourne’s west has resulted in the area being the most active industrial market in the country, he adds.

"The Colliers International Global Industrial Highlights Report found the Melbourne industrial market overall continued to be dominated by leasing and development activity in the west precinct and it continues to be the logistics and transport sector that was demanding the majority of industrial space."

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