- The 26.7-hectare site was acquired off-market from Sargents Charity
- Ray Trimboli of Savills brokered the transaction
- Over 1.5 million square metres in active tenant briefs within the market, says Savills research
LOGOS, with its capital partners, has purchased a 26.7-hectare vacant land parcel for $180 million from Sargents Charity in an off-market deal.
The transaction was brokered by Ray Trimboli of Savills.
The site is prominently located on Archbold Road in Eastern Creek, zoned IN1 General Industrial, and has exposure to the M4.
It is suited to a range of future development uses including warehousing and logistics. A multi-tenanted A-Grade logistics park is what the site will be developed into.
The sale represents the continued strength of the industrial sector, which has been fuelled by supply chain issues and the growth of on-demand delivery. It also highlights the need for inventory to be nearer to customers to better meet customers expectations.
“There is significant pent-up demand in the market, particularly for prime industrial land in popular industrial locations such as Eastern Creek which offers unrivalled access to Greater Western Sydney,” said Ray Trimboli, Director of Industrial & Logistics, Savills.
Demand for industrial property in Western Sydney continues to outstrip supply, with over 1.5 million square metres in active tenant briefs within the market.
Research conducted by Savills has revealed that prime net face rents in the West have increased by 30% since 2019, and 51% over the last decade.
Sargents Charity, established in 2000 and associated with pie manufacturer Sargents, donates to hospitals, research programs, schools , community centres and other beneficiaries.
Sargents has been extensively developing land in the area, having constructed the Sgarents Road estate in 1997. It is home to a range of business such as Startrack, Aldi and Woolworths.
