Australian industrial and logistics property is currently the most sought-after asset class among a large share of private investors and mini industrial warehouses are providing a new opportunity to acquire multi-level industrial developments.
Australian industrial and logistics property is currently the most sought after property asset class, over $3.5 billion has traded within the sector this year, underpinned by favourable structural tailwinds which continue to positively impact the division.
In a preventive measure to maintain stock levels across their warehouses, Coles and Woolworths have reinstated product buying limits due to a sudden demand for grocery items over the past 24 hours in certain parts of Melbourne.
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Coles will give its warehouse and retail employees a special one-off ‘Thank You Bonus’ for working through the ‘intense’ early weeks of the pandemic.
In a memo to Coles staff, chief executive officer Steven Cain said he was “incredibly proud” of the staff who kept the stores open and running when customers were panic buying stock and shelves were left bare.
“For eight weeks in March and April, we experienced an unprecedented level of demand and the pressure on our stores, sites, distribution centres and facilities were intense,” Steven said.
“But thanks to your efforts, we were able to move record volumes of stock onto our shelves so Australians could get the food, drinks, and groceries they needed.”
The bonus will apply to employees working in supermarkets, petrol stations and warehouses.
The Shop, Distributive and Allied Employees Association (SDA) said on a social media post that the union welcomes the announcement as an “important first step to recognise the efforts of Coles workers during this time”.
“Thank you to every SDA member who supported our push for this payment for essential workers,” the union stated.
SDA, the retail-focused union said last week that workers will get incentives ranging from $100 to $750 for their work during the coronavirus outbreak.
Coles’ move follows Woolworths’ announcement earlier this month that it would financially reward its workers with a bonus payment for their service over the least two months
Woolworths said it is giving staff an additional $5 an hour, paid out once, for work during the first 10 weeks of the pandemic.
In April, Costco Australia also rewarded 4,000 employees with a $750 bonus on top of the company’s temporary wage increase of $3.
Leading home-grown tea retailer, T2 Tea, experienced a 120 per cent growth across its digital sales channels in 2019 and as a result needed to rethink its WMS provider. MHD sits down with the technology and logistics team to find out more.