A 32ha industrial development site at Yennora in Sydney's west will be carved up as a major new industrial precinct after its acquisition by Partners Group and Logos Property Group.
Partners Group, a global private markets investment manager, is providing equity for the purchase on behalf of its clients alongside Logos, a specialist logistics real estate group.
CBRE National Director, Industrial & Logistics Services, Jason Edge negotiated the sale of the significant landholding at Yennora on behalf of vendor and global aluminium producer Alcoa.
Partners Group and Logos Property Group plan to subdivide the property, which was sold with part vacant possession, in stages and sell off the existing buildings.
Mr Edge said the property was extremely well-positioned given the strengthening demand for strategically located industrial property in Sydney’s west.
“With current industrial supply levels in Sydney at a five-year low, this sale will enable Partners Group and Logos to bring this ideally-located property back to active industrial use and also allow owner occupiers to benefit from historically low interest rates,” Mr Edge said.
“This site in Yennora is one of the few major industrial land holdings in Sydney adjoining a residential train station that has B double access and a major intermodal container terminal on its door step.”
Logos is also aiming to provide a smaller industrial lot subdivision, with lots ranging in size from 2,000 - 6,000sqm. The balance of the site will offer buildings from 5,000 – 15,000sqm with most having low site coverage.
“An offering of this scale, size and prominent position is unique and as a result, there is already a substantial level of interest in the future of this site,” Mr Edge added.
Located approximately 24 kilometres from Sydney’s CBD, the landholding is surrounded by a number of older style industrial buildings, as well as recently constructed strata unit estates.
Key industrial operators in the area include Toll, Woolworths, Linfox, Queensland Rail, Australian Wool Handlers and Qube Logistics.