Commercial Property | News
Maas Group Holdings (Maas) has acquired a site at 4 Rural Drive, Sandgate – a 8.6ha site that currently houses the Newcastle Fruit Markets. Maas acquired the site from a consortium of local wholesalers and has plans for further future development of the site, injecting much needed industrial and logistics facilities into the Newcastle region.
The site, strategically located with excellent connectivity to major arterials including the M1 Motorway, New England Highway and Newcastle Link Rd, will continue to house current fruit and vegetable wholesale tenants. With significant surplus land surrounding the current buildings, Maas plans to further develop the site into a food and logistics hub. Current and future tenants will in turn benefit from logistics efficiencies, shared infrastructure and potential skills sharing.
This acquisition grows Maas’ industrial and commercial land holding in the Newcastle and Hunter region. The Group is developing a significant 23ha industrial subdivision at Tomago and has also recently acquired a commercial site in Singleton that is planned for a childcare development. Maas also continues to expand it’s self-storage portfolio in the region with another strategic acquisition underway in Taylors Beach – growing Maas’ Spacey Self Storage portfolio to 8.
The Group have plans to further expand it’s local land holding as the Newcastle region continues to experience a high demand for appropriate industrial land and facilities.
Quote attributable to Michael Noonan, Director Property Development, Maas
“The acquisition of the Sandgate site is an exciting addition to Maas’ growing industrial property portfolio in the Newcastle and Hunter region. With an under supply of appropriate industrial and logistics facilities in the region, the future development of this site into a food and logistics hub will present an exciting opportunity for existing and prospective businesses.”
Claire Falk | Group Marketing Manager
0456 306 378
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