- The 25.6ha vacant site is located in Sydney's Rosehill Central
- The location make the site a potential for a last-mile facility
- The site is expected to attract offers between $450 million and $500 million
A 25.6ha vacant site in Sydney’s Rosehill Central has entered the market with price expectations between $450 million and $500 million.
The site is one of Sydney’s largest-ever infill industrial and logistics sites with the potential to become a last-mile facility.
Located adjacent to Rosehill Racecourse the property was once part of the former Shell site.
The land can be sold in one line or as individual/multiple serviced lots, with the potential to deliver over 140,000sqm of space. The prospective end value is estimated at $1 billion.
Institutional developers have a strong focus on infill development sites according to CBRE’s Mr O’Neill with over $500 million in central-western Sydney transactions this year.
“The successful Rosehill Central purchaser will be able to capitalise on the lack of competing stock in the market and the huge volume of enquiry for industrial & logistics space in Sydney’s central west, which has accelerated by 20% due to rising e-commerce penetration,” Mr O’Neill said.
“There is more than 200,000sqm of pent-up tenant demand in the central west market with a vacancy rate of just 0.34%. These market fundamentals have triggered 10% rental growth in Q1 2022 alone, with minimal new stock expected until 2024.”
A 30-minute drive to Sydney CBD, the property is located on the corner of Devon Street and Colquhoun Street, Rosehill Central.
Colliers International’s David Hall highlighted that this Rosehill Central site represented one of the last remaining large scale industrial & logistics development sites east of Parramatta.
Its IN3 Heavy Industrial zoning means the land can be utilised for a range of broad uses. It also has an approved 13-lot subdivision allowing for sites ranging in size from 8,060sqm to 36,330sqm.
“This location provides seamless access to the densely populated centres of Sydney, creating the perfect last-mile logistics location and an exceptionally efficient e-commerce location.”
David Hall, Colliers National Director
Mr Hall also underlined that the location benefits from “… lower inbound and outbound transportation costs, lower toll costs and proximity to population and key logistics infrastructure.”
The site will benefit from a $93.3 billion NSW Government infrastructure spend in Western Sydney, which is creating improved connectivity with South Sydney with the third stage of the Westconnex which is scheduled for completion in 2023.
The sale is being run through an Expressions of Interest campaign which closes on 14 June 2022.