Mapletree Logistics Trust strengthens presence in Melbourne

Mapletree Logistics Trust Management, as manager of Mapletree Logistics Trust (MLT), has acquired a cold-storage facility at 5-17 Leslie Road and 6-10 Pipe Road in Melbourne at a purchase price of A$42.8 million ($31.6 million).

Following the acquisition, MLT will have five logistics assets in Melbourne and a total of 13 assets in Australia with more than A$870 million ($641 million) in assets under management and 352,400 square meters (3.8 million square feet) of leasable space.

The property is located within the inner west precinct of Melbourne, an established industrial and logistics region in the vicinity of MLT's existing four properties. With excellent connectivity to major arterial routes and proximity to the city center (13 kilometers/8 miles) and the Port of Melbourne (10 kilometers/6 miles), the inner west precinct is a location of choice for users from the logistics, light manufacturing and food distribution industries.

Spanning a total net leasable a