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Sleep Systems secures Melbourne DC

Sleep Systems

Bedding supplier Sleep Systems New Zealand has leased a new distribution centre (DC) in Melbourne’s west to support its Australian operations.

Sleep Systems, which focuses on bedding and components for hospitals and aged care, has committed to a four and a half year lease over the Laverton North facility.

The rental hasn’t been disclosed, but new office and warehouses in the precinct typically lease for around $90 per sqm.

CBRE’s Fergus Pragnell, Tom Murphy and Ricardo Cappelletti secured the tenancy on behalf of building owner151 Property.

Fergus Pragnell, CBRE Industrial & Logistics Manager, says the warehouse was speculatively developed by national landlord 151 Property, part of Blacktsone.

“This leasing transaction was the very last deal completed within Blackstone’s ‘Milestone’ portfolio, which earlier this year sold to ESR for $3.8 billion,” Fergus says. “Speculative development continues to be absorbed in Melbourne’s west well before practical completion.”

The 10,903 sqm property features a 5693 sqm warehouse for distributing Sleep System products.

The 13.7 metre high-clearance warehouse incorporates two recessed loading docks and three on grade roller shutter doors.

The property is situated 12km from the Port of Melbourne and 17km from the CBD.

The tenancy is in line with CBRE’s Industrial and Logistics Outlook report for 2021, which indicated continued demand for warehouse space, particularly in the West Melbourne area.

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