eKourier July 2020

FEATURE

Melbourne seems to be in a constant state of change. There are hordes of people flocking in to call one of the most liveable cities in the world home, increasing the population dramati- cally year on year. It is projected Melbourne’s population will surpass Sydney by 2026, to become the largest City in Australia. Higher growth is being driven by rising birth rates, strong international migration and people moving from interstate and regional hubs, pushing Melbourne's and Sydney's populations to about 6 million by mid-2026. TRUGANINA WELCOMES KENNARDS STORAGE

past few years.

In the middle of this rapidly expanding western suburbs residential and industrial revolution is our new Truganina facility. The site is a purpose built facility with buildings comprising of driveway, ground floor and first floor storage spaces. Potentially the site has a component in planning to double the size of the storage area with adjoining vacant open land having also been purchased by Kennards Self Storage. Built by Regis Constructions, the newest of Kennards Storage projects will initially comprise of two separate buildings of two levels each with approximately 7,200 square metres and 496 storage spaces. In the end, the final develop - ment will have over 13,000 square metres of rentable area, and 760 storage units. There is no immediate intention to develop niche storage markets at Truganina given the site is predominately central to industry and housing only.

I n 2005, the Victorian Government recognised that Melbourne has plenty of land that can be rezoned for residential housing on its urban fringe, and consequently planning commenced to rezone and develop 12 new suburbs across greater Melbourne's west, north, northwest and southeast areas. These new areas will incorporate new estates at Craigie- burn in the north, Cranbourne in the South, and Werribee (Truganina) in the west with projections of 50,000 new homes over the ensuing four years. It’s no coincidence that Kennards has purchased vacant land for storage purposes in these specific growth corridors with our Truganina site just

commencing business this month.

The western suburbs of Melbourne has seen a rapid growth in development already with over 15,000 residences being planned or currently being built. Given the availability of open land, the western corridor has also been zoned for major commercial develop- ment, an expansion that is very evident driving along the newly constructed and major thoroughfare of Leakes Road – the location of our Truganina site. Melbourne’s west is still significantly cheaper to purchase land (residential & industrial) than Melbourne’s south-east industrial precinct, and as a result has been expanding rapidly already for the

Wayne Birch Vic Operations Manger

7 Kennards Kourier July 2020