Blackstone, Fife trade DHL distribution centre
Blackstone is selling a modern logistics facility in Sydney’s outer west, to Fife Capital
The result for 78 Templar Road, Erskine Park – a 22,468 square metre warehouse on 4.13 hectares leased to DHL – is as yet unknown but based on a 5.5 per cent yield, would circle $56 million.
The price would exceed $60m if the return reflected a circa five per cent return.
Cushman & Wakefield’s Tony Iuliano, Adrian Rowse and Chris Jones are the agents.
Erskine Park is about 38 kilometres west of the CBD.
The deal comes six years since Fife completed a landmark 100,000 sqm office/warehouse in Melbourne’s north, originally meant for Kaufland, but later leased to DHL.
78 Templar Road
The Templar Rd property was completed for DHL in 2019 (continues below).
The agents said rent should uplift nearly 70 per cent upon expiry of the current term in 2029.
Erskine Park is highly constrained with less than 10ha of active industrial land supply, they added.
The deal comes nine months since Blackstone sold an Eastern Creek industrial investment.
That buyer was Gateway Capital.
The price was $75m.
In 2025 Blackstone bought a business park in Brisbane’s Cooper Plains for $89.6m from Goodman.
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