New tenants sign up at Stockland Western Sydney logistics centres
Stockland is progressing with its development pipeline of $83 million of logistics assets across Western Sydney, having signed up new tenants Silk Contract Logistics, Daikin, Orora and Colette.
Stockland's Yennora Distribution Centre spans 70 hectares and operates as an intermodal rail terminal, connected to the Main Southern Rail Line.
It recently completed a a $26 million development at Yennora which expanded the centre to more than 300,000 square metres.
Silk Contract Logistics signed a lease which comprises a 13,597 square metre high clearance office/warehouse building, as well as 19,582 square metres of dedicated container rated hardstand, providing direct rail access to Port Botany.
Daikin has signed as a core tenant to Stockland's $96 million Coopers Paddock Logistics Park in Warwick Farm (pictured below). Colette fashion accessories and Orora Packaging have also leased tenancies at the site.
The$50 million second stage of the Ingleburn Logistics Park has also been finalised with two new warehouse facilities of 15,494 square metres and 21,350 square metres.
This follows the completion of stage one last year, a 29,050 square metre facility that is now fully leased to Next Logistics and TIFS.
Tony D’Addona, General Manager – Workplace and Logistics, at Stockland, said the group’s styrategy is to grow its national workplace and logistics portfolio to greater than 25 per cent of total assets.
“Our vision is to create modern, functional and connected logistics centres, supporting local employment to meet Western Sydney’s growing demand for new warehousing and manufacturing space,” he said.
“We made a decision to develop over 110,000 square metres across our Warwick Farm, Yennora and Ingleburn assets which has proven to be a great opportunity with strong leasing activity across 2018.
“Together these developments are contributing approximately 650 new jobs for Western Sydney today, with significant potential for future employment growth.
“The demand for high quality logistics assets has been driven by a robust NSW economy and consistent, record infrastructure investment, including the new Western Sydney Airport, offering a great opportunity to develop high quality assets in connected locations.”
D’Addona said Stockland’s national Workplace and Logistics business includes a $600 million national development pipeline and comprises 34 properties, currently valued at approximately $3.7 billion.
