The 4.4 hectare site at Broadmeadows will be developed into a multi-unit logistics estate within the Northcorp Industrial Park precinct, delivering 28,000 square metres of industrial floorspace once completed.

It is the first acquisition for Elanor Investors Group under its newly established partnership with ICON Developments, the Australian based subsidiary of Japanese developer, Kajima Corporation.

The purchase of the new site involves a majority equity commitment from ICON with Elanor looking to build out a significant Australian industrial and logistics portfolio through its diversified real estate funds management platform.

Partner, Nick Sparks and Senior Associate, Sunita Warrior led the Maddocks Development team in advising the partnership on the transaction and was supported by lawyers Tommy Delatycki, Kim Shephard and Jethro Fox.