LOGOS extends it’s Melbourne portfolio with another Truganina acquisition and appoints a Head of Australia and New Zealand

Media
Wednesday 7th August 2019

The Kmart Distribution Centre is LOGOS’ third acquisition in Melbourne’s established industrial suburb of Truganina in the past month, with the Group acquiring an industrial development site at 285 Palmers Road, which it will develop into a modern 160,000 square metre GLA logistics estate, and completing on a brand new facility on Infinity Drive in July.

The circa 77,000 square metre GLA Kmart Distribution Centre is fully leased to Kmart Australia, with the property benefiting from excellent access to Melbourne’s motorway network including the Princes Highway and West Gate Freeway. The State Government proposed surrounding road upgrades, including the West Gate Tunnel Project, will also further enhance connectivity to Truganina for logistic operators.

Newly appointed Head of Australia and New Zealand, Darren Searle said: “We are seeing a number of great opportunities across the region, with today’s acquisition testament to this.

“Truganina is one of Australia’s core industrial locations with many large logistics operators including Coles, Woolworths and the Reject Shop, operating from this suburb. The Kmart Distribution Centre is a strategic addition to our growing portfolio of core assets within key logistic markets secured by long term cashflow, and we’re pleased to have further strengthened our Melbourne portfolio through this acquisition.”

Commenting on Mr Searle’s appointment, LOGOS Group Chief Executive Officer, Tom Lee, said: “The Australian business has experienced significant growth over the past few years as we have built a strong portfolio across key logistics corridors in Melbourne, Sydney, Brisbane, Perth and most recently Auckland.

“Darren’s appointment as Head of Australia and New Zealand is an important step as we look to provide dedicated leadership and focus to support our local business in continuing this momentum with deals such as the Kmart Distribution Centre.”

Mr Searle joined LOGOS in January this year as the Australian Head of Development having formerly worked as General Manager of Property Development for global logistics company Toll Group.

Mr Searle added: “I am very excited to have taken on this new role and look forward to working with the local team to harness the strong momentum in the business and deliver on the opportunities we are seeing across Australia and New Zealand. I’m also looking forward to further leveraging the knowledge and experience across our Asia Pacific business and working with our regional logistics and ecommerce customers in delivering on their growth strategies.”

LOGOS’ Australian and New Zealand portfolio includes assets and developments across New South, Victoria, Western Australia, Queensland and Auckland.