Salta has secured one of the largest owner-occupier industrial land transactions seen in Melbourne's South East in recent years, with Pinnacle Hardware committing to a five-hectare site at its iQ Cranbourne West industrial precinct.

The landmark transaction comes just weeks after Salta launched Stage 2 of the precinct, providing another strong endorsement of both the iQ Cranbourne West development and the long-term strength of the South East region as Melbourne's premier industrial corridor.

Pinnacle Hardware will establish a new purpose-built headquarters and distribution facility spanning almost 30,000sqm, supporting the company's continued national growth following a series of recent business acquisitions and expanding customer demand.

According to Colliers, notably, over the past 12 months, Salta has accounted for more than 80 per cent of all recorded industrial land transactions in the Core South East, further cementing the company's position as the dominant industrial land developer in one of Melbourne's fastest-growing logistics corridors.

The deal comes at a time when serviced industrial land of this scale is becoming increasingly scarce, with Colliers estimating fewer than five development-ready sites exceeding five hectares remain across Melbourne's core South East industrial market.

The sale also continues the strong momentum at iQ Cranbourne West, following the complete sell-through of Stage 1 earlier this month. Collectively, sales across the precinct have now generated almost $100 million in revenue, with further Stage 2 opportunities remaining available.

Director of Commercial & Industrial Development at Salta, Owen Smith, said the transaction demonstrates the confidence major Australian businesses continue to have in Victoria's industrial sector and in Salta's ability to deliver premium industrial precincts."To secure a transaction of this scale within days of launching Stage 2 is an outstanding endorsement of the iQ Cranbourne West precinct and of Salta's ability to consistently deliver premium industrial communities that businesses want to be part of," said Smith.

"This transaction demonstrates that businesses making long-term investment decisions continue to back Victoria when the fundamentals are right. Pinnacle Hardware has made a significant commitment to its future here, reinforcing the South East as Australia's premier industrial and logistics market."

“Selling more than six hectares through Stage 1 before immediately securing a further five-hectare commitment through Stage 2 highlights not only the quality of the iQ precinct, but the confidence businesses continue to place in Salta's delivery capability and long-term vision,” added Smith.

According to Colliers National Director, Industrial & Logistics at Colliers, James Stott, the acquisition represents the largest owner-occupier purchase of an industrial site exceeding two hectares in Melbourne's South East in more than five years.

"Industrial land parcels exceeding five hectares are now exceptionally scarce across Melbourne's established South East. Dandenong South is effectively built out, while the remaining development pipeline is concentrated within a small number of masterplanned estates,” said Stott.

"We estimate that approximately 95 per cent of the remaining core South East industrial land pipeline through to 2029 is controlled by just five developers and institutions, making opportunities like this increasingly difficult to replicate."

"Businesses are prepared to commit significant capital to secure scale, certainty and long-term operational flexibility in Melbourne's premier industrial market."

Managing Director of Pinnacle Hardware, Oscar Lin, said the company's decision to invest at iQ Cranbourne West was driven by both its strong business growth and the strategic advantages offered by the location."Our business has experienced significant growth over recent years, including through strategic acquisitions, and we're investing in infrastructure that supports our next phase of expansion. Remaining in Melbourne's South East was important to us. Our existing operations are located nearby, allowing us to retain our workforce while benefiting from outstanding connectivity to our customers, suppliers and distribution network,” said Lin.

"This combined with Salta's reputation for delivering premium industrial precincts gave us confidence that iQ Cranbourne West was the right long-term home for our business."
Located at 690 Western Port Highway, Cranbourne West, the iQ precinct provides direct access to the Western Port Highway, South Gippsland Freeway, Princes Highway and Monash Freeway, connecting businesses to Melbourne's key freight and logistics networks.

Construction of Pinnacle Hardware's new facility is expected to commence following settlement in Q1 2028.

With Stage 2 now on market, a limited number of industrial land opportunities remain available at iQ Cranbourne West.