Expansion Case Study:

Carrum Downs, VIC

 
This tenant-led project showcases our collaborative, customer-centric approach to property ownership. The project has strategically added value to Trilogy’s asset while improving the operational capacity of the tenant and fostering a deeper owner-customer relationship.

Trilogy acquired the property at 118 Colemans Road, Carrum Downs, in June 2021, and identified a potential value-add opportunity that would benefit the Trilogy Industrial Property Trust. Shortly after acquiring the property, Trilogy engaged with the existing tenant, Tempur Australia Pty Ltd (‘Tempur’), to identify their future needs for the site. From this engagement we identified their desire for additional warehouse space to facilitate a new product launch.

Trilogy negotiated an Agreement of Lease for the expansion alongside an extension to the existing Lease term with Tempur. This increased the WALE of the asset by two years, and created a viable project for the Trust to undertake that would benefit Tempur and TIPT investors.

The southern section of the site presented as an obvious expansion space; a relatively level building pad, access to existing services. Trilogy worked closely with Project Managers (Cushman & Wakefield), the appointed Head Contractor (COTA Group), and Tempur to develop a design for the expansion that both met Tempur’s requirements and complemented the existing built form in a manner that would be appealing to any future tenant.

A 550 square metre annexure was constructed, with external access for transportation vehicles and internal access to the pre-existing warehouse for pedestrians and forklifts. Despite consistent rain delaying construction, the project was delivered on-time and within budget on 28th October 2022.

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