Total vacant industrial space increased over the first quarter of 2013. As at April 2013, there was 410,508m² of industrial space above 5,000m² available within 39 buildings. Although industrial vacancy is at its highest levels since July 2011, it still remains 23% below the historical average of 533,280m².
The new industrial supply pipeline is forecast to total 558,163m² over the course of 2013, a 4% decrease when compared to 2012. The new supply pipeline is likely driven by demand from Transport, Postal & Logistics and Retail Trade based tenants.
The total value of industrial sales (>$5 million) across all regions in Melbourne over the twelve months to April 2013 was $389.0 million. Offshore groups (32%) were the dominant purchaser type, largely as a result of the capital partnering between DEXUS and the National Pension Service of Korea in the establishment of a portfolio of Australian industrial properties. There was also strong activity from unlisted funds/syndicates (29%) and private investors (27%).
Source : Knight Frank