Stockland strengthens Western Sydney logistics pipeline with new tenants
Stockland continues to capitalise on the growing demand and interest in its logistics assets, progressing a development pipeline of $83 million across Western Sydney as it remains focussed on its strategy to grow the national workplace and logistics portfolio to greater than 25 per cent of total assets.
Stockland owns and operates seven key logistics assets in Western Sydney, home to over 40 tenants and has recently secured Silk Contract Logistics, Daikin, Orora and Colette.
Tony D’Addona, General Manager – Workplace and Logistics, at Stockland, said: “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.”
“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.”
Located 29 kilometres west of Sydney, Stockland's Yennora Distribution Centre is one of the largest of its kind in the southern hemisphere, spanning 70 hectares and operating as an intermodal rail terminal, connected to the Main Southern Rail Line.
Last month Stockland completed a $26 million development at Yennora, which has seen the distribution centre grow to more than 300,000 square metres.
Silk Contract Logistics has chosen Stockland’s Yennora intermodal to expand its NSW operations. The newly leased premises comprise a 13,597 square metre high clearance office/warehouse building, together with 19,582 square metres of dedicated container rated hardstand, providing Silk direct rail access to Port Botany.
Stockland's $96 million Coopers Paddock Logistics Park in Warwick Farm is also now complete and fully leased with international household brand Daikin as the core tenant. Colette fashion accessories and Orora Packaging recently leased the remaining two available tenancies at the multi-warehouse logistics centre.
Stockland also finalised its $50 million second stage of Ingleburn Logistics Park last month, incorporating 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.
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.
