South-east Melbourne’s largest speculative cold storage facility has been launched to the leasing market, with Hale Capital Partners’ 27,291sqm “Adapt” project at Oakleigh South targeting completion in December 2026.
The facility is being jointly marketed by JLL and CBRE and can be configured as a single operation or split into four freezer tenancies ranging from 6626sqm to 27,291sqm.
Built to full freezer specification of -22°C, with the ability to convert to chiller, the development is designed for high-volume cold-chain logistics, food distribution and pharmaceutical operations.
Hale Capital Partners, Nicholas Bradley, said the project reflects the group’s conviction in infill logistics and cold storage as a long-term growth sector.
“This development has been designed to meet the evolving needs of cold-chain occupiers, with flexibility, efficiency and sustainability at its core,” Bradley said.
“The decision to proceed on a speculative basis reflects our confidence in the requirements of the Melbourne market and the ongoing demand for freezer-ready infrastructure.”
Stephen Adgemis from JLL said cold storage remains one of the most structurally undersupplied segments of the industrial market, particularly in infill locations close to population centres.
“This facility delivers scale, flexibility and outstanding capability, all within a highly strategic location in Melbourne’s inner south-east,” Adgemis said.
CBRE senior director, David Aiello, said with premium-grade, existing cold storage vacancy across Melbourne close to zero, Adapt offers a rare opportunity for occupiers seeking modern capacity.
Aiello said the adaptive-reuse design delivers an average eave height of 12.5 metres, compared with 10.2 metres across Melbourne’s existing cold storage stock, while also providing stronger access to labour and residential catchments than many competing facilities.
Located within the City of Kingston, the site offers direct access to the Princes Highway, Nepean Highway and Monash Freeway, placing about 40 per cent of Melbourne’s population within a 30-minute drive. The development includes more than 32,600 pallet spaces, 16 recessed docks, B-double drive-around capability and 166 car parks.
The project is targeting a 4-Star Green Star rating and will incorporate solar PV, energy monitoring systems, LED lighting, rainwater harvesting and electric vehicle charging infrastructure.
JLL said Australia has around 0.4 cubic metres of refrigerated warehouse capacity per urban resident, behind the US at 0.6 and the Netherlands at 0.9, and estimated the country will require almost 14 million square metres of additional logistics floorspace by 2030, including about 750,000 square metres related to cold storage.
