Officeworks takes Caroline Springs bulky goods space

Officeworks will front a new $50 million bulky goods and showroom development in Melbourne’s outer west.

The stationary and office supplier will be a key presence at the development on the Western Highway in Caroline Springs.

The official rent for the space has remained confidential but market sources estimate the price is about $180 per square metre based on comparable leasing of other properties in the area.

The lease tenure was negotiated by Savills Australia.

Savills Australia industrial director Michael Green said the development will be in a prime position.

"This is an astute leasing decision which ticks all the boxes for a well located retail operation," he said.

"It is located in a popular and rapidly growing region of Melbourne’s west, has highway frontage which provides excellent exposure to a high volume of passing traffic, plenty of parking and is adjacent to a Bunnings store."

Other retailers are finalising their leases in the development that will have six other bulky goods retail showrooms as well as 40 smaller offices and warehouses.