Australia’s leading importer and supplier of certified aftermarket and genuine parts has joined the Charter Hall Industrial & Logistics tenant customer portfolio in signing up for a new facility in NSW.
Auto Part Group has secured warehouse and office facilities at Woodpark Logistics Estate in Smithfield, NSW, an asset of the Charter Hall managed Core Logistics Partnership (CLP).
The 5.3 ha site in Smithfield is being redeveloped from a car storage and processing facility into a premier logistics estate that will serve as a distribution hub.
King living and Krost have also signed on as tenants, allowing the industrial development to be fully leased prior to completion.
Auto Parts Group secured the first pre-commitment at the estate, for an 8,020 sqm warehouse and office facility on a 10 year lease term.
The company will relocate to the new development from their existing premises, also in Smithfield, due to business growth and the need for a larger, more modern facility.
King living has pre-leased the largest warehouse and office space, totalling 11,040 sqm. The furniture giant has also signed a 10 year lease, and so has the third tenant in the estate, Krost.
The facility has been designed to accommodate King Living’s operations and includes 18 recessed docks and a maximum internal warehouse clearance of 13.7 metres.
The facility includes a 35 metre hardstand with awning for both King living and Krost.
Andrew Simons, Charter Hall’s Head of Development, Industrial & Logistics said “We are delighted that we have pre-leased 100 per cent of Woodpark Logistics Estate prior to completion of the estate,”
“Charter Hall’s Industrial & Logistics development pipeline now exceeds $2 bn, providing the scale and flexibility to satisfy the growth aspirations of our existing and prospective tenant customers.”
Andrew said Charter Hall is providing modern logistics space in strategic locations.
“Charter Hall’s track record as a leading owner and developer of key industrial and logistics facilities and the estate’s premier location in Western Sydney were key to securing these pre-commitments,” he said.
Charter Hall Core Logistics Partnership now comprises 37 industrial and logistics properties valued at $1.95 bn, with a WALE of 10.4 years, and benefits from 98.7% occupancy.