As demand for well-located and flexible warehouse and distribution space continues to grow, Stockland is well placed to respond with a $400 million logistics and business park development pipeline.
Strong leasing momentum this year has already seen 388,000 square metres of space in high-growth corridors executed or underway across the Stockland portfolio as tenants look to capitalise on growth opportunities and maximise efficiencies.
Most recently Stockland has completed a 29,000 square metre development in a prime location in Ingleburn, NSW that is now fully leased, with plans well advanced on the next stage of this development on adjoining land. Once complete in 2018, the two proposed buildings will deliver an additional 36,500 square metres of high quality warehouse space.
Work has also started on a 50,000 square metre greenfield development at Warwick Farm in NSW, a development that will deliver quality logistics space in Sydney’s mid south west in early 2018.
To capitalise on the growing demand and interest in Stockland’s existing assets, two new warehouse facilities at Oakleigh in Victoria have been redeveloped. The 10,600 square metre and 8,300 square metre buildings have significantly transformed the asset into an exciting logistics offering. Similar upgrade projects are scheduled for Yennora, NSW, Brooklyn, VIC and Port Adelaide, SA.
Stockland is also on track to offer leasing opportunities at a prime site in the established Logan Motorway industrial market of Willawong, Queensland. This site will complement the strategically positioned Yatala Distribution Centre.
Office, Logistics and Business Parks General Manager Tony D’Addona said, “It’s really pleasing to see the strength of demand for our properties across the board. In particular, we continue to see strong interest in the western Sydney market driven by a robust NSW economy and infrastructure investment and we’re responding with a high quality and diverse portfolio of assets in the very best locations that meet our customers needs.”
“Stockland’s latest developments are consistent with our goal of delivering customer-focused solutions and providing flexibility to accommodate their future growth and changing requirements.
Our portfolio of prime assets and development opportunities together with our strong asset management capabilities backed by a firm commitment to our customers ensures we are well placed to deliver flexible and functional property solutions to meet ever changing consumer demands,” said Tony.