Equiset purchased the Thornbury site in late 2006. 

The site is located in an Industrial Zone 3 pursuant to the Darebin City Council Planning Scheme.

In early 2007 Equiset teamed with RedC and BB Design group to develop the M&M Business Park concept. .

To prepare further documentation, Equiset engaged a range of expert consultants:

• Building Surveyor – Construction Certification Services
• Structural & Civil Engineers – J Liapis & Associates
• Hydraulics & Fire – Caddnet Building services
• Electrical – SPA Consulting Engineers Pty Ltd

The final concept submitted to Darebin Council was for a state-of-the-art purpose-built business facility that included:

• 64 warehouses
• 2 caretaker residences
• 22 storage warehouse (sizes ranging from 88m² – 120 m²)
• 11 dual access trade warehouses (127.5m²)
• 23 warehouses (136.5m²  – 202m²)
• 8 office warehouse (206.8m²  – 278.5m²)
• café

All warehouses included design for mezzanines (57m²  – 80m²).
Planning permit was granted on 14^th August 2008

Due to global financial pressures and market indicators M&M Business Park was delayed by 12 months. 

In early 2009 the decision was made to reduce the size of the first stage to 24 warehouses that would generate estimated revenue of $7.5m.

Presales commenced mid-2009 via conjunctional agents Love Commercial and Jones Lang Lassalle, who were managed through Grollo Real Estate Management.

Financial Close with the ANZ was reached in June 2009.

The total value of construction value of the project was $4.5 million. Construction took place between August 2009 and July 2010.

• August 2009 - demolition of existing buildings / site set up
• September 2009 - piling
• October 2009 - in-ground works / slab pour
• November 2009 - precast Panels
• December 2009  - structural steel
• February 2010  - metal roofing
• March 2010  - glazing
• April 2010  - framing / ceiling framing / internal rough-in / plaster sheeting
• May 2010 - carpentry / fit off
• June 2010 - external works
• July 2010 - final clean

The Certificate of Occupancy was granted on the 1^st June 2010 while the Certified Plan of Subdivision was granted on 27^th August 2010.

As at 10^th October 2010, Stage One was 75% sold.

Equiset’s role at the M&M Business Park continues with the proposed development of Stage Two.

Stage two will comprise:

• 7 x dual access warehouses
• 8 x office warehouses
• 1 x café 

Stage two is expected to generate revenue of $8 million.
Pre-sales were launched on 1^st October 2010.
Demolition and site set up are scheduled for November 2010. Construction will start in February 2011. 

Statistics

• Area 11,201.2m²
• 12 office warehouses
• 30 trade units
• 22 warehouses
• 2 caretaker residences
• Café 

Project Program/Milestones

Stage 1:

Commenced: October:2009
Completion 

Stage 2:

Commencement
Scheduled Completion