ISPT achieves planning approval on $280 million Dandenong Works industrial site
Dandenong Works is a super-prime logistics estate that uniquely retains and celebrates its heritage. Image: artist impression.
ISPT has received planning approval on the $280 million, 12.2 ha Dandenong Works site. Image: artist impression.
Leading fund manager ISPT has continued to grow its industrial footprint, achieving planning approval on the $280 million, 12.2ha Dandenong Works on Princes Highway in Dandenong.
The site will be home to eight super prime grade warehouse tenancies which will range from 1,500 sqm to 30,000 sqm, with solar power, super canopies, 14.7m ridge height, 24/7 operation, 8 tonne post load slab and B-double access.
The well-known site was originally home to a purpose-built factory for local manufacturing during World War 2, before becoming home to the International Harvester Company in 1952 – which was acquired by IVECO in 1992. ISPT acquired the site in 2022.
ISPT is committed to celebrating the heritage of Dandenong Works, with sections of the original façade being retained and celebrated in the new design as well as salvaging 60,000 bricks which will be re-used in the finished product. The result is a site that embodies the existing character of the former International Harvester and IVECO factory site while providing much-needed prime-grade industrial stock to the area.
The site is targeting a 5-Star Green Star Buildings rating and will feature a 1.4 megawatt solar power system across the site, EV car and truck charging, and responsible waste initiatives as well as offsetting upfront emissions.
Tenants will be able to customise their own builds to suit their needs, with the significant frontage to Princes Highway making the location highly desirable for a number of different users.
All of the eight warehouse tenancies will have adjoining corporate offices. These facilities are complemented by on-site amenities including end-of-trip facilities and bicycle parking.
The permit approval comes off the back of ISPT’s recent updates to its industrial strategy, which included a re-weighting of the Core Fund’s industrial holdings to 30 – 35 percent by 2030.
Quotes attributable to Matthew Cox, Project Director (Industrial), ISPT:
“ Dandenong Works is a perfect representation of what we’re working towards at ISPT – when complete, this new industrial project will celebrate the site’s original heritage, deliver industry leading ESG credentials and provide tenants with best-in-class amenities and fit-outs.
“ Dandenong Works is quite unique in terms of its heritage – it’s a site that we know the community cares deeply about, and we have worked tirelessly to ensure our scheme will capture the history, character and heritage of this well-known and keenly watched site.
“ Prime grade industrial stock is highly defensible and strategic, and we are catering to growing demand by re-weighting our portfolio to include more high-quality industrial projects like Dandenong Works,” Matthew said.
See more information on Dandenong Works.
For media enquiries, please contact:
Nicole Grove
General Manager, Communications
ISPT
Phone: +61 427 916 166
Email: ngrove@ispt.com.au
