Centuria creates $107m industrial supersite

Centuria has just amalgamated 5.7 hectares at Wetherill Park.


Centuria has added another property to a west Sydney amalgamation quietly being created since 2022.

Eleven Hexham Place was developed in 1980.

In Wetherill Park, 11 Hexham Place, is costing $11.5 million – a five per cent capitalisation rate – from a private vendor.

The result also prices land at $2740 per sqm or $27.4m per hectare.

Cushman & Wakefield’s Carl Pearce, Alistar Siokos and Nick Brooks were the agents; following an expressions of interest campaign closing four months ago, a deal was formalised in January and will settle April.

Local major landlords include Aliro, Arrow Capital, Charter Hall and ESR.

Name your price, neighbours

Centuria was arguably always the likely buyer, holding for its flagship Industrial REIT (CIP) adjoining properties: 8 Hexham Pl, recently valued at $15.3m, 160 Newton Rd ($39m) and 164-166 Newton Rd ($41.1m).

Including 11 Hexham Pl, the trust now controls 5.7ha providing, according to the manager, “a site of scale for medium to long term development, including potential multi-level opportunities”, branded Wetherill Park Industrial Estate.

CIP holds other local investments, amongst them, 74-94 Newton Rd – spreading 5.2ha and with a 16,962 sqm distribution centre, part with a multi-storey clearance.

The acquisition comes three months since we reported a 2.03ha industrial investment in the suburb sold between locals for $25m – 257pc up on its 2014 purchase price but lower, based on land value, than 11 Hexham Pl (story continues below).

Centuria chases “critical mass and scale”

Eleven Hexham Pl is the 12th time the fund has consolidated properties.

The asset includes a 1927 sqm building with c120 sqm showroom. The warehouse clearance is up to nine metres, accessed via four roller doors.

There is a 720 sqm awning too.

The E4-General Industrial zoned site also includes a dual driveway and full drive around access.

“This well presented freestanding warehouse generated a large amount of interest due to the rarity of buildings of this size and Wetherill Park’s proximity to major arterial roads, showcasing the precinct’s superior connectivity to greater Sydney,” Mr Pearce said on behalf of the marketing agency, without disclosing the buyer.

“Approximately 3.9 million residents can be reached within 45 minutes of Wetherill Park, representing approximately 75pc of Sydney’s population,” he added.

The region’s industrial vacancy (measuring assets over 3000 sqm) is a low 0.7pc. The rate is even tighter in the outer west (0.4pc) and west (0.5pc), according to Mr Siokos.

Wetherill Park is 36 kilometres west of Sydney’s CBD and 14 km the same direction from Parramatta.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.