Target offers up national home base

Discount department store Target’s expected movement of its national distribution centre to a new facility in Melbourne’s west has opened up the largest industrial vacancy in Australia.

Target is vacating its current facility in Altona North, freeing up the enormous logistics complex at 30 Taras Avenue.

The Dexus Property Group-owned facility is spread over a 10.18ha site and features more than 40,000sqm of logistics space, 2907sqm of corporate office facilities, 93 recessed loading docks and six finger docks, as well as 225 on-site car spaces and 125 truck spaces.

It is situated close to both the Princes and West Gate freeways.

Colliers International’s Nick Saunders and Stephen Newsham have been appointed to run the leasing campaign, with Saunders saying a facility of this scale are a rarity.

Target’s warehouse is on the leasing market.

“This is the largest industrial vacancy in Australia at present and a landmark asset in the Victorian industrial market due to its scale and prime location,” Saunders says.

“We expect significant interest from major fashion businesses and consumer good companies looking to secure an outstanding facility in which to house their Victorian distribution centre.”

Saunders says the property’s location is a major drawcard.

“The industrial precinct of Altona North is considered a prime logistics and transport hub in Melbourne’s west due to its ease of access to major road networks, port infrastructure and host of national and international companies who have based their operations in the area,” he says.

“This will also contribute to making 30 Taras Avenue highly sought after.”