Workplace & Logistics: 34 assets, 1.4 million sqm of space, $2.8 billion in value, in key locations for logistics, infrastructure and employment.
Stockland has combined its logistics, business parks and offices into the newly named Workplace & Logistics, which signals our focus on the evolution of office and industrial assets, as well as our commitment on growing and developing the portfolio to meet our customers’ needs.
In particular, Stockland continues upgrading its existing assets and is developing exciting new opportunities that meet the changing demands of the logistics and retail sectors – one particular challenge is the rise of online retailing.
The appointment of our new CEO of Commercial Property, Louise Mason, who has more than 25 years of experience in retail town centres, workplace and logistics, will also help to shape Stockland’s response to a rapidly changing retail landscape and emerging markets.
Stockland’s portfolio continues to perform well with high occupancy above 98%, and we continue to see strong leasing and encouraging progress on our $600 million future development pipeline.
The logistics sector has been a key beneficiary of ongoing strong economic and population growth, unprecedented infrastructure programmes, the continued rise of online retailing and evolving land uses, with particularly strong leasing markets resulting in Sydney and Melbourne. We are proud to offer a national portfolio which plays an important role in the overall supply chain and ultimately assist in achieving smarter, faster and more customer-centric service. Our logistics developments continue to progress well including the successful delivery of the $77 million Coopers Paddock Logistics Centre at Warwick Farm. We have a strong workplace and logistics development pipeline with properties recently completed in Yennora and Ingleburn in Sydney and under construction in Truganina in Victoria and Willawong in Brisbane.
In line with our commitment to growing and developing the portfolio, we are leading speculative industrial development to cater for a growing demand in the fast-growing warehouse and logistics sector.
Stockland General Manager Workplace and Logistics Tony D’Addona said: “We understand the nature of the logistics supply chain is evolving quickly. We also understand occupiers’ requirements can emerge or change quickly. By researching markets where supply is limited and there is an underlying demand, we are building high quality space that is superior to existing stock and meets the ever-changing needs of occupiers and retailers, without the commitment of a pre-lease.”
“We’re creating more flexible developments that are attractive to occupiers that are looking for modern, efficient space but unwilling or unable to pre-lease or purpose-build industrial warehouse facilities.”
The demand for space and our deep understanding of customer needs is driving Stockland’s investment in new developments with sustainable design initiatives and flexible design characteristics such as 10 to 13.7 springing heights, 6 tonne floor point loads, ESFR sprinklers and B-Double accessible truck courts that help to increase customer convenience and ease of delivery.
A recent example of speculative development success is Coopers Paddock at Warwick Farm. Completed in 2018 and fully leased before completion, the state-of-the-art and sustainable logistics centre has answered a market demand for space of this calibre.
“Stockland’s pre-lease agreement with Daikin for part of the 11-hectare site allowed the speculative development of 17,000 sqm of warehouse space to meet growing leasing demand in Sydney’s southwest which is being driven by the need to get the right product to the right people at the right time. The warehouse was designed so it could be split into one or two tenancies, to cater for a wide range of potential tenants.
“The speculative building was leased to two existing Stockland customers, including Colette, which is evidence of our strong retailer relationships,’ said Tony.
In line with Stockland’s focus on delivering customer-focused solutions that provide flexibility to accommodate future growth and changing requirements, our developments are designed to help retailers optimise their supply chain and increase competitiveness.
“We will continue to work with our retailers to stay ahead of their needs in the changing retail landscape,” he said.