Ivanhoé Cambridge and LOGOS acquire strategic development site in Melbourne

Ivanhoé Cambridge and LOGOS have agreed to acquire a strategic development site in Broadmeadows, one of Melbourne’s key infill northern industrial suburbs. Ivanhoé Cambridge plans to develop the site into a A$230 million ($165 million) logistics estate, with LOGOS to act as the manager and developer.

Located at 120 Northcorp Blvd. in Broadmeadows, the property offers excellent access to Melbourne’s key transport network including the Western Ring Road, Tullamarine Freeway and the Hume Highway interchange, as well as the government of Victoria’s planned North East Link. Leveraging this premier location, LOGOS will transform the former Woolworths distribution center to deliver more than 120,000 square meters (1.3 million square feet) of modern, high-quality logistics assets within the renamed LOGOS Broadmeadows Logistics Estate.

George Agethen, Ivanhoé Cambridge’s senior vice president for Asia Pacific, said, “This transaction continues our strategy for log