Dexus Partners with Boral for Major Australian Logistics Hub

Dexus Finance Pty Limited has announced a strategic partnership with Boral Limited to develop a vast logistics precinct in Melbourne's western corridor. The joint venture aims to transform 630 hectares of land at Ravenhall into one of Australia's largest logistics precincts, with a potential lettable area of 2.5 million square meters, subject to rezoning and business plan approvals.

The partnership underscores Dexus's long-term growth strategy. Dexus Group CEO Ross Du Vernet emphasized the scale and significance of the project, highlighting its role in enhancing a critical logistics corridor in Australia. This development aligns with Dexus's strategy to create a diversified platform and leverage third-party capital in a phased approach.

The joint venture structure allocates a 50% interest to Dexus and future third-party partners, while Boral retains the remaining 50%. Dexus will spearhead the rezoning process and handle development, property, and investment management roles.