REGIONAL Growth Drives Moe’s Industrial Market Expansion
“…Prime Urban Group, having anticipated these changes in early 2023, strategically positioned itself to capitalize on the surge in demand.”
Moe and Newborough, two towns nestled in Victoria’s Gippsland region, are undergoing a significant transformation. Spurred by the development of new greenfield housing estates, these towns have experienced a sharp increase in population, leading to a ripple effect across various sectors.
Among the most notable changes is the marked growth in the industrial property market, particularly the demand for modern warehousing facilities. This economic shift has created opportunities for local businesses, developers, and investors who are eager to tap into the expanding industrial market.
Prime Urban Group, having anticipated these changes in early 2023, strategically positioned itself to capitalize on the surge in demand.
With the M1 Business Park, the company took a proactive approach, planning well in advance to cater to the needs of a growing business community. This forward-thinking strategy has enabled Prime Urban Group to secure a first-mover advantage, with 70% of units at their industrial estate already sold.
Such success underscores the critical role that planning and foresight play in responding to evolving market dynamics.
The Population-Industrial Growth Cycle
The influx of new residents into Moe and Newborough has created more than just a vibrant residential sector—it has driven a corresponding need for industrial spaces to accommodate businesses that service these communities. From logistics and distribution centres to tradespeople requiring warehousing, the demand for modern industrial facilities has soared.
This trend is not unique to Moe; it mirrors the rapid growth witnessed in suburbs such as Officer and Warragul, where population booms have similarly stimulated industrial market expansion. In these areas, housing estates attracted new residents, which in turn led to increased demand for businesses to support the growing communities, thus driving the need for industrial units. Officer and Warragul have become prime examples of how population growth can reshape a region’s economic landscape.
Like Moe, these suburbs have seen a rapid rise in new industrial developments to support both local businesses and broader logistics networks. The parallels between these areas and Moe are striking. All have experienced or are experiencing surges in residential population, followed by a burgeoning industrial sector that ensures the towns can sustain growth and continue attracting new residents. Moe’s transformation is part of this broader regional trend, where areas previously considered more rural are now becoming integral hubs for both residential and commercial development.
Prime Urban Group: Leading the Way
The M1 Business Park exemplifies Prime Urban Group’s ability to recognise and respond to these market forces. Located strategically near essential transport links, the M1 Business Park is designed to meet the diverse needs of businesses, from warehousing to service industry professions. Its location and state-of-the-art facilities offer tenants ease of access and the ability to operate efficiently in a region experiencing rapid growth.
As demand continues to rise, Moe is becoming a beacon for industrial investment. Over 70% of the units in the M1 Business Park have already been sold, demonstrating the confidence that businesses and investors have in the region’s economic future. This is not just about the numbers, but about the broader impact: Prime Urban Group’s early action has positioned Moe as a key player in the Gippsland industrial market, allowing local businesses to grow and new enterprises to emerge in an environment primed for success.
A Broader Industrial Boom
Moe’s industrial market is not growing in isolation. The town’s strategic location within the Latrobe Valley and its proximity to Melbourne have made it an attractive option for industries looking to expand beyond the confines of metropolitan areas. Developers and investors have quickly taken note, with several new industrial projects now underway to meet the rising demand. The Latrobe City Council has approved over 15 new properties, with nearly 100 warehouses slated for construction across Moe . This rapid expansion reflects a growing recognition of the town’s potential, as developers rush to establish a foothold in a market ripe for growth.
Moe’s Economic Future
As Moe and Newborough continue to evolve, they are becoming more than just residential towns—they are emerging as key industrial hubs within the Gippsland region. This growth is a testament to the power of strategic planning and the foresight of companies like Prime Urban Group.
By recognising the connection between population growth and industrial demand, Prime Urban Group has been able to secure a significant share of the market and pave the way for future development. With over 70% of their units sold at the M1 Business Park, Prime Urban Group’s success is a clear indicator of Moe’s bright economic future.
The developments in Moe are only the beginning. As the population continues to rise and more businesses seek modern industrial facilities, the town’s industrial market will undoubtedly expand further. Moe’s journey, like those of Officer and Warragul, is one of transformation. From quiet residential towns to thriving industrial and commercial centres, the region stands as a model of how population growth can drive broad-based economic development.
In the coming years, Moe will likely emerge as one of Gippsland’s most dynamic economic hubs, offering opportunities for residents, businesses, and investors alike.