Vaughan Constructions will deliver more than $12 million in new facilities to Fort Knox, which is a joint venture between the Wilson Family and McMullin Group, and Aldi in Melbourne’s north.
The two new custom-built facilities, which will sit on adjacent allotments on Sydney Road, Coburg North, include Fort Knox’s three level, 13,420 square metre self-storage facility and Aldi’s 1734 square metre store that they will lease from Fort Knox. McMullin Property is the project manager for both developments.
According to Vaughan’s development manager in Victoria, Chris Telley, the Aldi development (1009 Sydney Rd) will include two additional, 154 and 197 square metre, tenancies that will be let following the completion of the main Aldi store development which includes 123 car spaces on the 9,180 square metre site.
“We’re delighted that one of Melbourne’s best known developers, McMullin Group, has again chosen Vaughan Constructions as its preferred builder for the Fort Knox and Aldi projects,’’ Telley said.
He said the new Aldi store would bring to more than 100,000 square metres the total Vaughan Constructions had been engaged to build for the German brand.
Fort Knox director, Guy Wilson, said the 1011 Sydney Road facility, the firm’s tenth storage facility in metropolitan Melbourne since its inception in 1996, would cater to the increasing demand for a billion dollar industry which was virtually unknown as recently as the 1980s.
“Self-storage has really come into its own, especially over the last decade with the increase in higher density living, renting as opposed to owning, and generational lifestyle changes, among the key drivers.
“This new facility is about responding to rapidly increasing demand and the very positive feedback we have had from our client base,’’ Wilson said.
The Aldi store is among nearly 150 Victorian stores, and more than 500 Australia wide, built since the first store opened in 2001. Roy Morgan research recently announced ALDI as Australia’s most trusted brand for the second survey in a row.
A relatively recent market entrant, Aldi is expected to reach a 9.2 per cent market share in 2017/18, according to IBISWorld.
McMullin group director, Ian McMullin, said Sydney Road was one of the most sought after addresses in northern Melbourne, its name synonymous with showroom and commercial service industries for more than 50 years.
“This is an exceptionally well located site that will infinitely enhance the success of both the Fort Knox and Aldi businesses in this part of Melbourne.
“It’s about location, but it’s also about maximising the potential of the sites with modern, operationally efficient and customer focussed buildings which Vaughan has a reputation for delivering,’’ McMullin said.