CSR banks $575m from west Sydney site
CSR is selling an industrial developer another west Sydney site – this one abutting the new airport.
The 194 hectare parcel, 235 Martin Road, Badgerys Creek, is collecting a speculated $575 million from Goodman.
Just over 136ha is developable; agents marketed it for the potential to yield a c705,000 square metre business park with and end value of over $3 billion.
Any estate, they added, will be able to cater for 40,000 sqm-plus buildings – which is difficult to find in Sydney’s established industrial zones.
CBRE’s Cameron Grier, Jason Edge and Chris O’Brien were the agents.
The site, abutting the east edge of the Western Sydney Airport, also including 235 and 245 Martin Rd, was listed February after being deemed surplus to needs.
The deal comes some five months since CSR settled on the final piece of an ex-brickworks at Horsley Park – the 4.2ha parcel known as 3C collected $42m (the entire 52ha parcel traded in pieces since pre-COVID, for a total $408m, or $245m after costs, including remediation, CSR must pay, ESR and Frasers Property Industrial were amongst the buyers).
Also this year, the group sold a 17.5ha Darra, Brisbane, former brickworks to Charter Hall which is planning a c100,000 sqm business park with a $350m end value.
Subscribe to our newsletter at the bottom of this page.
