After 25 years of ownership, diversified developer Pellicano is eyeing completion of its Dandenong South industrial parks.
The developer recently inked four deals across its portfolio to the tune of $4.5 million per annum, which will culminate in the completion of M1 and M2 Industry Parks at Dandenong South.
Pellicano managing director Renato Pellicano said it was a milestone moment for the vertically integrated developer.
“This is a historically significant time in our 55 year journey—our founders Frank and Nunzio purchased the land in 1999 and collectively we took the time to focus on delivering projects the right way, to the right occupiers,” Pellicano said.
“We seek out clients who share our baseline ethos of transparency, and we are dedicated to designing future-proof and business parks that will continue to deliver long-term benefits to our occupiers.
“Our journey has been one of vertical integration, starting from the ground up with greenfield development. Now, we’re also unlocking opportunities in brownfield occupancy. This flexibility allows us to adapt and repurpose our assets to cater to the evolving needs of our occupants—it’s a testament to our family’s unwavering commitment to building for the future.”
Knauf Gypsum has moved into a speculative 7320sq m building at 109 Bayliss Road, IMG Comfort has taken a speculative 3938sq m building at 155 Monash Drive for a seven-year term, another undisclosed tenant will take up the 11,791sq m facility at 200 National Drive, and Pure Dairy signed a 15-year pre-lease for a 12,744sq m building at Abbots Road.
Others tenants at the Dandenong South Industry Parks include Amazon, Baby Bunting and Dulux.
The deals are for about 10 per cent of Pellicano’s industrial portfolio, which has long been a cornerstone of the company’s operations.
While the developer also operates in the residential space, industrial makes up 50 per cent of its portfolio.
M1 and M2 Industry Parks span 120ha of commercial and industrial land, providing on-site amenities including childcare and an indoor play centre, wider roads for ease of access, and Arco Café and Restaurant, alongside location benefits such as connection to main arterials.
Frank Pellicano Reserve, at 43-67 National Drive, was renamed in recognition of Frank’s contribution to the Greater Dandenong area. It brings together 24ha of accessible parkland, wellness and conservation space, forming the heart of M1 and M2 Industry Park.