Dexus spends $123m in Kemps Creek

A Truganina warehouse Dexus recently acquired from McPhee Distribution Services director Jay McPhee.

Dexus has entered a put and call option deed for a 30 hectare Kemps Creek industrial development site.

The holding on three titles – covering 113-153 Aldington Road – is costing $123 million.

Icon Oceania was undertaking due diligence to buy it late last year

The land can accommodate about 155,000 square metres of product.

The buyer has already committed McPhee Distribution Services to about 72,000 sqm of it – a move which would consolidate the logistics group’s New South Wales operations; also today we reported Dexus was paying the McPhee family $186m for four east coast distribution centres.

If the Aldington Rd deal proceeds, settlement will take place in April, 2023 (story continues below).

Colliers’ David Hall and Fab Dalfonso were the agents.

Kemps Creek is about 39 kilometres west of Sydney.

More to come.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of