Frasers acquire prime industrial site in western Sydney
Frasers Property Australia (formerly Australand) has exchanged contracts with Hanson Concrete to acquire a 10 hectare site adjacent to its Eastern Creek Business Park in western Sydney.
The site complements Frasers Property Australia's previously developed 100 hectare Eastern Creek Industrial Estate.
Frasers Property Australia northern region general manager Ian Barter said that Eastern Creek was identified as a prime location for logistics and warehousing operation over a decade ago.
“This decision has been validated following the development of over $650 million worth of institutional A grade industrial facilities in Eastern Creek," he said.
"When the opportunity arose to purchase several hectares adjoining the existing estate, we were very keen to pursue the opportunity.”
“As one of the leading developers and owners of industrial product in Australia, it is important for Frasers Property to have a strong presence in the major markets such as Western Sydney.
"The new site will accommodate up to 60,000 sqm of built form and enable us to service both existing and future customers in an area where we have enjoyed a leading market position for some time,” he added.
“A wide variety of users including major corporates, third party logistics providers and local manufacturers who are looking to either lease or own in a prime location will embrace the opportunities we are presenting.”
The new land parcel will be released to the market in 2017 with pre-lease, turnkey and land sale opportunities.
Due to its close proximity to the M7 and M4 motorways, Eastern Creek Business Park has homed several well-known companies such as DB Schenker, LG Electronics, Kmart, Best and Less and Office Max.
Frasers Property has also recently exchanged contracts to acquire three large parcels of prime land in Melbourne beside its existing parks to further expand the company’s national industrial footprint.
The first 20 hectare site at 18 Archer Street, Truganina beside West Park Industrial Park. Two additional land parcels (combined area of 15.72 hectares) are adjacent to The Key Industrial Park on Perry Road in Keysborough.
