Stage II and Polyaire Commit to Wilmac Corio Development

Geelong-based fashion company Stage II has pre-committed to relocating its warehousing headquarters to the Wilmac Corio development in Corio, while national HVAC supplier Polyaire has secured a seven-year lease for a 1400sq m facility. The move supports Stage II's expanding logistics operations across Australia, New Zealand, and Asia, while Polyaire aims to deliver high-level service to its customers. The development, which features 12 warehouses of 1000sq m or more, has attracted high-profile businesses and is poised to become a key industrial hub in the region.

Key Takeaways:

• Stage II has pre-committed to relocating its warehousing headquarters to the Wilmac Corio development, doubling down on the estate with the purchase of Lot 4 and lease of Lot 6 for a combined 4811sq m of floorspace.
• Stage II's chief financial officer Rohan White highlighted the need for quality large-scale warehousing solutions in the Greater Geelong region, with convenient access to Geelong's CBD and proximity to the distribution network in Melbourne making Wilmac Corio an attractive choice.
• Polyaire has signed a seven-year lease with a five-year option for Lot 1 in Stage 1, securing a 1400sq m facility with mezzanine office space and dual roller doors, serving as the new Geelong base for the company as it relocates from Belmont.
• Wilmac Corio is the only industrial project in the region offering new warehouses of 1000sq m or more, with three of the 12 warehouses remaining on the market for sale or lease, and the developer clocking up $43.7m in transactions in the $56.5 million project.
• Polyaire national property and fleet manager Dean Placanica emphasized the strategic position of their new location, supporting their commitment to deliver high-level service to their clients.
• Knight Frank's Steve Jones noted that Geelong offers relative affordability for industrial users compared to Melbourne, while also having strong growth prospects due to its strategic location and accessibility.

Statistics:

• 12 warehouses of 1000sq m or more are available at the Wilmac Corio development.
• Stage II has purchased Lot 4 and leased Lot 6 for a combined 4811sq m of floorspace.
• $43.7m in transactions have taken place in the $56.5 million project to date.
• Three of the 12 warehouses remain on the market for sale or lease.
• Polyaire's new Geelong base at Wilmac Corio covers 1400sq m with mezzanine office space and dual roller doors.

Sources:

• Stage II chief financial officer Rohan White
• Polyaire national property and fleet manager Dean Placanica
• Knight Frank's Steve Jones
• Wilmac Corio development (developer)
• C3 Constructions (constructor)
• Victorian Government (relevant data on Geelong's industrial market)