Furniture retailer Steinhoff doubles space at Fraser Property's Wetherill Park
Leading furniture retailer, Steinhoff International Holdings has nearly doubled the size of its warehouse facilities in Frasers Property Australia’s flagship 6 Star Green Star Horsley Drive Business Park, Wetherill Park.
The company has secured a further 8,900 sqm over a seven-year period, taking its total purpose-built warehouse and office space to 18,869 sqm. The asset is worth $34 million.
Royal Comfort Bedding and Select-O-Pedic, owned by Steinhoff, will utilise the new warehouse space.
The strong growth in the property sector has helped drive demand for additional warehouse space and this is expected to continue.
Listed Steinhoff has 275 retail stores across Australia and eight retail brands, some including Freedom Furniture, Fantastic Furniture, Snooze and Plush.
“Horsley Drive Business Park has become very popular with furniture retailers. We have now secured four in the park including Nick Scali, Vivin Imports, Royal Comfort Bedding and Select-O-Pedic,” said Ian Barter, general manager Commercial & Industrial Northern Region for Frasers Property Australia.
“Horsley Drive Business Park provided the perfect strategic location for Steinhoff to consolidate its expanding operations. It made smart business sense to co-locate two of its distribution operations to one central location.”
The business park has access to the M7 and other major motorways. Its 6 Star Green Star rating is also attracting companies. Martin Brower, Survitec Group, Nick Scali, and Phoenix Transport are already located in the business park.
The 20.4 hectare site is owned by the Western Sydney Parklands Trust (WSPT) and is located on the corner of Cowpasture Road and Horsley Drive, Wetherill Park.
Frasers Property Australia entered into a development agreement and long-term ground lease with WSPT to the high-quality industrial estate with a mix of facility types.
