Welcome. In this issue, we explore what’s in store for the workplace and logistics sector and the trends and developments most likely to affect you.
While the economy has fluctuated, the fundamentals for the sector remain positive. With the recent federal election concluded, the property market should build momentum as businesses start to regain confidence with an easing of uncertainties. Against this backdrop, our workplace and logistics business continues to perform well, delivering high occupancy, strong leasing activity and solid rental growth.
Our industrial properties remain in demand thanks largely to growth in omni-channel retail and ongoing investment in infrastructure. An emphasis on supply chain efficiency to deliver goods with speed and agility will continue to drive strong tenant demand for our well-located facilities.
Our assets are predominantly based in the strongly performing Sydney and Melbourne markets and we will continue to seek opportunities in the eastern seaboard markets. The value of our Logistics portfolio has grown to around $2.5 billion, including two new logistics developments at Ingleburn in Sydney and Willawong in Brisbane.
Our development program has delivered ~$100 million of new projects, with a further $56 million of projects under construction and a development pipeline of over $950 million.
We’re excited to introduce our new Melbourne Business Park in the fastest growing logistics precinct in Victoria. The well connected business destination will be next to our Mount Atkinson residential community and will deliver land, pre-lease and turn-key opportunities as well as provide 18,000 future jobs1.
Our Workplace portfolio is also delivering strong results reflecting the quality of our assets and our focus on delivering the workplace of the future. We’re working to design connected and collaborative environments such as M_Park that will deliver significant potential for businesses to grow, engage and work the way they want to.
We are also progressing development opportunities for our Sydney office assets including the Piccadilly Centre in the CBD and North Sydney. These are well-located assets for workplace and mixed use development, leveraging our masterplanning and development expertise.
Thank you for your feedback on the first issue of the Workplace & Logistics newsletter, we truly believe in the value of sharing insights, trends and research to help you stay up to date with what’s happening in the industry.
We hope you enjoy reading our second issue and we welcome your feedback. Please email us with your thoughts at firstname.lastname@example.org
1 Victorian Planning Authority