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Oh, what a feeling! Spooner signs Toyota to Caribbean Park

February 14, 2018

Toyota Finance will move to a new head office at Caribbean Park near Scoresby. Photo: Supplied

Ben Spooner has notched another notable leasing success at the family’s Caribbean Park office development in Melbourne’s outer suburbs, securing 5000 square metres of new tenant commitments.

Half of this space will be taken up on a 10-year lease by Toyota Finance, which will operate a new hub in one of the four campus-style office buildings recently completed by the Spooner family.

Mr Spooner plans to add up to 250,000 square metres of office development at the 180-hectare business park near Scoresby, which the family has owned since the 1940s.

Alongside Toyota, electronic products distributor Hisense has committed to 784 square metres, diversified materials manufacturer Nitto Denko has leased 760 square metres, and energy company Aus Net has signed up for 720 square metres.

With the deals struck at net rents of $280-$300 a square metre, they will bring in combined annual income of more than $1.4 million.

All four leases were negotiated through Elise Betts and Gianni McDonald of CBRE. Malcolm Hunter from Independent Corporate Property acted on behalf of Toyota.

The new tenants will join an impressive line-up of occupiers that includes US consumer and commercial goods group Newell Rubbermaid, German appliance maker Miele, insurance broker Austbrokers Countrywide and motor vehicle insurer Avea Insurance.

In August co-working provider Waterman committed to leasing one of the four 7500-square-metre office buildings on a 10-year deal.

“With these recent commitments, Caribbean Park has proven itself to be a location of choice for global and local organisations in the financial services, professional services, marketing and consumer products, information systems and technology, and automotive sectors,” Mr Spooner said.

The imminent finalisation of one more leasing deal will mean stages one and two of the office park, covering 32,000 square metres, will be fully leased in just over three years since pre-leasing began in October 2014.

Two office buildings with 9000 square metres of spare are under construction in stage three of the project, and are due for completion next year.

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