Trilogy Funds Targets E-Commerce Logistics with Key Acquisition in North Geelong

Trilogy Funds has secured a major industrial asset in North Geelong — the national distribution centre formerly operated by Quiksilver — as part of a broader push into e-commerce-aligned logistics. Acquired for $33.8 million, the 3.8-hectare site offers scale, rental security, and port proximity, making it one of the most strategic industrial holdings in regional Victoria. The deal underlines growing investor confidence in Geelong’s emergence as a logistics and manufacturing centre, driven by population growth, infrastructure spend, and rising demand for last-mile delivery capability outside the congested Melbourne market.

A Prime Asset in a Growing Logistics Corridor

Geelong has transformed from a legacy manufacturing base into one of Victoria’s most dynamic regional cities. North Geelong, in particular, is rapidly evolving into a logistics precinct of state significance, thanks to its freight access, port adjacency, and affordability compared to Melbourne’s southeast. Trilogy’s acquisition positions them at the heart of this momentum.

• The site is located adjacent to the Port of Geelong, providing direct access to import-export infrastructure and intermodal connectivity.

• It sits just over an hour from Melbourne’s CBD, avoiding metro congestion while still enabling efficient eastern seaboard distribution.

• The surrounding North Geelong area is zoned for industrial use and supported by regional economic planning focused on freight and employment growth.

Strategic Tenant Profile Ensures Income Security

The asset is currently leased to Liberated Brands — the Australian distributor for Quiksilver — under a secure arrangement that offers stable income and reduced risk for Trilogy’s investor base. It reflects a broader institutional trend toward long-term tenanted, mission-critical logistics properties.

• Liberated Brands uses the site as their national fulfilment and distribution centre, supporting both retail and online channels.

• The lease generates approximately $2.25 million in annual rental income, underpinned by strong tenant retention.

• The property’s large GLA and fit-out configuration make it well suited for ongoing logistics operations and unlikely to face functional obsolescence.

Capitalising on E-Commerce and Population Growth

The acquisition is more than a passive investment — it’s a tactical move into a location aligned with e-commerce growth, freight decentralisation, and regional demand for quicker delivery cycles. Geelong’s growing population and business expansion make it ideal for tenants needing both scale and accessibility.

• Geelong is one of Australia’s fastest-growing regional cities, with population growth driving both B2B and B2C delivery volume.

• The location allows operators to shorten delivery lead times across Victoria while reducing operational costs.

• The rising prominence of Geelong in supply chain diversification strategies adds long-term value to logistics real estate.

Long-Term Hold with Development Potential

Beyond its current use, the site provides strategic upside for Trilogy. With a strong lease in place, they have holding income while also benefiting from land value appreciation and future redevelopment options — especially as Geelong’s industrial zones intensify.

• The 3.8ha site offers significant land coverage for future expansion, densification, or repositioning.

• It’s located in a precinct likely to benefit from ongoing road, rail, and port investment in the Geelong region.

• The acquisition aligns with Trilogy’s focus on long-term yield plus value-add upside through regional growth.

A Sign of Geelong’s Rising Industrial Profile

This transaction is part of a growing trend: capital flowing into well-located regional industrial assets that support real operational activity. Geelong’s low vacancy, strong rental growth, and alignment with e-commerce makes it a standout alternative to oversupplied metro markets.

• Regional cities like Geelong are becoming priority locations for investors seeking exposure to supply chain assets.

• Developers and funds are increasingly targeting value-rich corridors outside Melbourne’s metro boundary.

• As national industrial yields tighten, sites like this offer strong returns with long-term infrastructure tailwinds.

How Commercial Property Marketing Can Help

At Commercial Property Marketing, we support high-performing industrial assets and regional logistics precincts with marketing that drives clarity, interest, and investment. Whether you’re repositioning a logistics facility, selling a last-mile asset, or launching a regional campaign, we create the visuals, IMs, and strategy that get results.