LOGOS to Develop Purpose Built 11,215sqm Facility for News Corp Australia at its Truganina Logistics Estate
Monday 14th September 2020
LOGOS is pleased to announce it is developing a purpose built circa 11,215sqm printing facility for News Corp Australia at its Truganina Logistics Estate in western Melbourne.
News Corp Australia has committed to a 10-year term lease on the facility which become the company’s new Melbourne print centre for its Victorian newspapers including the Herald Sun.
LOGOS acquired the Truganina site in July 2018 with plans to transform it into a prime logistics and ecommerce estate offering 160,000sqm of modern facilities to service the Melbourne and broader Victorian community. The News Corp Australia facility is the first pre-commitment for the Estate, with construction of the facility well underway with FDC Construction & Fitout.
Darren Searle, LOGOS’ Head of Australia and New Zealand said: “We are very pleased to be working with News Corp to deliver their new Melbourne printing and distribution facility.
“Truganina Logistics Estate is an important asset in our Melbourne portfolio which offers tenants with excellent transport connections across the State to service their customer base following recent major infrastructure upgrades in the area.
“We are pleased to be commencing development of the Estate with a commitment from News Corp and look forward to working with FDC and our local consultants to deliver this new facility for them,” Mr Searle added.
News Corp Australia partnered with property and supply chain firm TM Insight to design and procure the new facility, with TM Insight to project manage the build with LOGOS.
“After selling their heritage print facility in Port Melbourne, News Corp is reinvesting into their operational efficiencies with this new development. This new purpose-built print centre has been designed according to best practice layout for the highly specialised printing and publishing equipment that will be installed,” says Justin Fried, Director Property at TM Insight.
Stage 1 earthworks at the Estate have recently been completed, with the first stage set to achieve Statement of Compliance in Q3 2020. This includes the delivery of a new PSP road (Network Drive) and 15.9 hectares of fully serviced industrial land for pre-commitment opportunities. Over 130 people will be employed during the construction of the facility, which is scheduled to be completed in November 2020.
LOGOS’ Asia Pacific portfolio comprises 100 logistics estates across nine countries with AUM of approximately $13.8 billion. LOGOS counts some of the world’s largest fund managers as its shareholders, including ARA Asset Management, a leading Asia Pacific real assets fund manager with a global reach, which took a majority stake in the company in March 2020.
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