Frasers Property Australia (formerly Australand) has exchanged contracts to acquire a 10 hectare site adjacent to its Eastern Creek Business Park in western Sydney.
The vendor for the property, located at Kangaroo Avenue Eastern Creek, is Hanson Concrete.
This site complements Frasers Property Australia’s previously developed 100 hectare Eastern Creek Industrial Estate. The new land parcel will be released to the market in 2017 with pre-lease, turnkey and land sale opportunities.
Ian Barter, General Manager Northern Region for Frasers Property Australia, commented, “We identified Eastern Creek over a decade ago as a prime location for logistics and warehousing operations due to its proximity to the major road networks in Sydney.
“This decision has been validated following the development of over $650 million worth of institutional A grade industrial facilities in Eastern Creek. When the opportunity arose to purchase several hectares adjoining the existing estate, we were very keen to pursue the opportunity.
“As one of the leading developers and owners of industrial product in Australia, it is important for Frasers Property to have a strong presence in the major markets such as Western Sydney. The new site will accommodate up to 60,000 sqm of built form and enable us to service both existing and future customers in an area where we have enjoyed a leading market position for some time,” he added.
“A wide variety of users including major corporates, third party logistics providers and local manufacturers who are looking to either lease or own in a prime location will embrace the opportunities we are presenting.”
Eastern Creek Business Park has attracted a broad mix of clients due its close proximity to the M7 and M4 motorways, A grade institutional product offering and the ability to access Western Sydney’s large skilled workforce.
Several well-known companies including DB Schenker, LG Electronics, Ceva, Kmart, CH2, FDM, Best and Less, Fisher and Paykel, Office Max and Techtronic Industries have leased or purchased in the park
Frasers Property has also recently exchanged contracts to acquire three large parcels of prime land in Melbourne beside its existing parks to further expand the company’s national industrial footprint. The first 20 hectare site is located at 18 Archer Street, Truganina beside West Park Industrial Park. Two additional land parcels (combined area of 15.72 hectares) are adjacent to The Key Industrial Park on Perry Road in Keysborough.
 Including properties now held by Frasers Logistics & Industrial Trust (FLT) and managed by Frasers Property Australia.