Colliers’ team of Angus Urquhart and Trent Gallagher are marketing a multi-level property with LJ Hooker’s Jon Orsborn and Ryan Jennings on behalf of Hale Capital in Sydney’s South West.
This multi-level industrial development in Milperra is the first ever to be put on the market for lease.
“This is the first development of its kind in the immediate area and further reinforces the demand for prime industrial space within the inner South West,” says Angus.
“The inner South West is lacking vacancy with many major tenants becoming displaced or having to renew within secondary facilities.”
The entire 37,526 sqm space at 339 & 349 Horsley Road in Milperra is set to offer occupiers an unprecedented opportunity with functional ramps and one-way traffic circulation able to accommodate B-Double access to both levels, and 30 m wide breezeways for undercover all-weather loading.
Sydney’s South West industrial and logistics market has been one of the strongest performers across Australia – notes Colliers – boosted by strong population growth, investment in infrastructure and relative affordability compared to precincts closer to the CBD.
“The Inner South West market is starved of A-grade warehousing and Hale Capital’s development will fulfil these requirements thanks to their large market leading multi-level site,” says Jon.
Other features of the warehouse include a minimum 4-star Greenstar rating, rainwater harvesting and PV solar systems across the building, as well as ESFR sprinklers throughout.
The overall vacancy rate within the region measures currently sits at 0.5 per cent for Q3 2023, making it one of the tightest markets in the country.
Quarter 2 saw a significant take up of stock within the area with the final tenancy at Barings Altitude development being leased to Austrans and 56,000 sqm being leased to Qube at Moorebank Intermodal.
The South West industrial precinct still remains one of hottest markets within Sydney due to the migration of tenants from Sotuh Sydney and the better quality of buildings available.
The area is still significantly starved of brand new availability and the Platform development will be the first to come out of the ground since Altitude offerng occupiers a brand new instituional grade offering and helping ease tight vacancy rate.
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