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Pellicano Announces New Pre-Lease, Expansion Deal at Innovation Park

February 2021

Diversified property developer Pellicano has announced two new deals – one pre-lease and one expansion – at its Innovation Park estate in Dandenong South: 4WD Supacentre and National Tyre & Wheel.

4WD Supacentre has signed a pre-lease agreement on 13,603sqm of industrial warehouse, at $95/sqm net for a seven-year lease; the company will be relocating its Victorian display centre and showroom, following a boom in sales in the latter half of 2020.

National Tyre & Wheel will be expanding its existing facility within Innovation Park, adding 8,975sqm of space to consolidate and incorporate its Tyres 4U operations.

These two businesses are closely linked, with their offerings, amongst other things in the case of NTAW, catering to the explosion in local, rural camping and adventure recreation, as four-wheel drive enthusiasts, adventurers, campers, fishers, and hikers get out and explore their own backyard.

Pellicano managing director Renato Pellicano believes the expansions are indicative of the sector experiencing extraordinary growth in Victoria, as the state re-opens its economy.

“ We’re now starting to see confidence surge back to many industries that were hit hard by 2020’s prolonged lockdowns. Outdoor-focused retailers are a perfect example; 4WD Supacentre and National Tyre & Wheel are capitalising on the prevalence for local travel,” he said.

A 4WD Supacentre spokesperson says the team is looking forward to joining the likes of National Tyre & Wheel at Pellicano’s Innovation Park.

“ We are predicting strong activity at our new facility in Dandenong South, especially given the location, which will provide us with great visibility for passers-by, providing tourists heading to Victoria’s eastern regions with an easy location to stop at before their travel,” they said.

The 4WD Supacentre deal was negotiated by Gordon Code and James Stott of Colliers.

“ With a-grade south east vacancy dropping to 0.35% over the course of 2020 into 2021 – it was logical decision for Pellicano to speculatively build a further 8,493sqm facility adjacent to the 4WD tenancy at 30 Vision Street,” Code said.

The new 4WD Supacentre showroom, located on Frankston-Dandenong Road at Pellicano’s Innovation Park, is due to open to the public late 2021.



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