Stockland has launched plans for a multi-level warehouse in Sydney’s south which it says will “contribute to the improved efficiency and resilience” of the supply chains servicing the city.
The site at 2-8 Baker Street, Banksmeadow, 11km south of the CBD, is in an established industrial precinct.
The developers say it will provide “an efficient and modern warehouse and distribution centre” strategically located close to the “nationally significant trade gateways” of Port Botany and Sydney Airport.
If approved, the 15,484sq m site will hold a double-storey warehouse with a gross floor area (GFA) of 12,578 square metres.
Pundits in the sector have recently voiced concerns that multi-storey warehouses are not feasible—outside Sydney’s south.
Warehouse 1 on the lower floor will have a 5578sq m GFA across warehousing, office and a dock office area, while Warehouse 2 on level 1 which offer a 6770sq m GFA.
The development will provide 247 construction jobs and then 144 operational jobs once complete, the developer said.
Stockland, which has around 30 industrial assets across the country, in its application acknowledged that the maximum height of the building will be 22.7m, ataller and larger building form compared to existing development on the site.
However, it said, the proposal represents “a significant improvement” in the quality of development on the site and is consistent with the desired future character of the area.
A CBRE Sydney industrial and logistics report earlier this year said that although gross take up over the first quarter or 2023 decreased to the lowest quarterly total in 10 years, lack of supply was the cause.
Sydney has a record low vacancy rate of 0.2 per cent, the lowest of any city globally.
