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Carve up of Peters Ice Cream Site

The Peters Ice Cream site in Wellington Rd Mulgrave is finally set to be developed with a deal announced by Frasers and ESR to acquire a 4.67ha portion of the site for $15M.

The vendor, Charter Hall acquired the larger 15ha site in a sale and leaseback deal with Peters Ice Cream in 2014 for $62M.

Charter Hall subsequently obtained development approval for the development of 4 commercial buildings across the site totalling 60,000sqm with 2,497 car space and a heritage listed office building retained and re-used.

The deal with Frasers and ESR comes just as Nissan confirmed their commitment to occupy 63% of Building 1 which will comprise 17,393sqm in total over 8 storeys.

Frasers and ESR are considering a quick re-sale of Building 1, appointing JLL to market the office asset.

Charter Hall continue to hold the balance of the site which Peters Ice Cream continue to utilise.

Location Plan:

#Development #Frasers #ESR #CharterHall