Diversified real estate company Charter Hall Group agreed to develop a A$100 million build-to-suit logistics facility for Woolworths in Melbourne's Laverton suburb, The Australian Financial Review reported.
The planned 32,600-square-meter temperature-controlled produce facility will be constructed on a 9.6-hectare site adjacent to an existing Woolworths facility, the publication noted May 22. It will be the third Woolworths-leased asset to be included in the portfolio held by the Charter Hall-managed Core Logistics Partnership wholesale fund.
The new Woolworths facility will reside within Core Logistics' A$400 million, 75-hectare Drystone Estate, together with facilities for Target, the Reject Shop, Couriers Please, Rand and Laverton Cold Storage, the report added.
