Tissot’s Prime Urban Group Wins Bendigo Approval

Developer Prime Urban Group has won planning approval for a business park in the Victorian regional hub of Bendigo.

The 2.23ha site at 8-16 Rohs Road, East Bendigo is earmarked for offices, warehouses and a cafe.

Prime Urban Development and Investment Group, established in 1991, is headed by directors Martin and Nicholas Tissot who are father and son, and specialises in residential, commercial and industrial projects.

The Prime Business Park Bendigo project will have 17 offices, 57 warehouses and two 1100sq m factory spaces.

Tenants will have the ability to amalgamate units with warehouses, including mezzanine levels for extra storage and motorised doors for delivery vehicles.

Archiworks has designed the plans for the project, which is close to main roads such as Rohs Road, Strickland Road and the Midland Freeway.

It also has access to the nearby rail network and the recently upgraded Bendigo Airport, which is a three-minute drive from the park.

The Prime Business Park is expected to have a gross realisation value of more than $55 million with 100 subcontractor jobs and more than 35 local suppliers engaged during the build.

▲ The project will have 17 office spaces and 57 warehouse spaces.

The site was acquired in July, 2023 with the last listed known price for the site set at $758,000, according to CoreLogic’s property records.

Nicholas Tissot said the company was banking on Bendigo’s future growth.

“Bendigo is a growth area in which we see significant future value,” Tissot said.

“It has terrific credentials from a commercial growth-perspective, as local businesses will need to keep pace with increased demand from the region’s surging population in the next decade.”

Greater Bendigo needs more industrial spaces with an industrial vacancy rate of 0.5 per cent, which is below the Melbourne average of 2 per cent.

It also has a resident population of 126,000 but is expected to grow to more than 200,000 in the next 25 years as a key regional hub within the state.

Tissot also said that there was an increased demand for smaller warehouse and factory units allowing small businesses to gradually scale-up their operations.

A local agency, McKean McGregor, will handle the pre-scale campaign for the new precinct.