Stockland acquires Prime land in Sydney's strong South-West Logistics area
27 May 2019
Stockland today announced it has acquired a new 13.09 hectare parcel of
land at Gregory Hills in south west
Sydney for $47.13 million, as it
continues to grow its workplace and logistics portfolio to greater than
25 percent of total assets.
Located on the border of the well-known Smeaton Grange
industrial
precinct and Gregory Hills bulky goods retail precinct, the site
provides good connectivity with close proximity to M5 and M7 Motorways,
part having exposure to Camden Valley Way, and benefits from growing
infrastructure just 24 kilometres from the
Western Sydney Airport site.
Stockland Group Executive and CEO Commercial Property, Louise Mason,
said: “The acquisition is in line with our strategy to own, develop and
manage high-quality
properties strategically positioned in key locations
for logistics, infrastructure and employment.
“Situated in Australia’s fastest growing Local Government Area (LGA),
Camden, this new industrial estate will provide employment opportunities
for the significant existing catchment of 343,000 people with over
30,000 homes scheduled to be built within 10km over the next decade,
including 3,000 new homes at Stockland’s nearby Willowdale community.”
Stockland General Manager – Workplace and Logistics, Tony D’Addona,
said: “The logistics market in Sydney’s south west continues to
experience strong demand and limited supply, benefiting from
unprecedented infrastructure boom to support growth.
“The acquisition of this south western Sydney site allows us to tap into
this burgeoning local market and also benefit from the shortage of
serviced land available to smaller and medium sized businesses looking
to grow. We will look to provide land, turnkey and lease opportunities
at a time when our Sydney portfolio is experiencing very high occupancy
and market fundamentals are strong.”
Future occupants at the industrial estate will benefit from a high level
of existing social infrastructure, including several residential
communities such as Stockland’s Willowdale community located 10 minutes
away, large day care centres, Gregory Hills Hotel, Soma Wellness, indoor
leisure complexes and various food and beverage outlets and the soon to
be completed Gregory Hills Town Centre.
Stockland is continuing to capitalise on the growing demand for
logistics assets across the country, making good progress with its
development pipeline having delivered ~$100 million of new projects over
the past six months with a further $56 million of projects under
construction and an additional development pipeline of over $740
million, targeting 6 -7 per cent FFO yields and centred on eastern
seaboard capital cities.
The Gregory Hills acquisition quickly follows the recently announced
87ha development land acquisition at Melbourne Business Park and is
zoned for industrial use with flexible development options. The project
expected to commence in 2020, subject to approvals.
Key site facts
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The Gregory Hills site lies within Australia’s fastest growing Local Government Area (LGA), Camden
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The site benefits from good infrastructure, including;
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close proximity to M5 and M7 Motorways, part having exposure to Camden Valley Way
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Narellan (3km), M5/Hume Motorway (7km), Campbelltown (10km), Macarthur Intermodal (13km), M7 Motorway (17km), Moorebank Intermodal (22km), Western Sydney Airport (24km) Parramatta CBD (37km), Sydney Airport (45km), Port Botany (52km), Sydney CBD (55km).
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--ENDS--
Source: Stockland - www.stockland.com.au
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