Goodman buys piece of ex-Orica chemical plant

Orica offered the site permit-ready for two warehouses over a concrete platform.

Orica has sold Goodman Group a 3.995 hectare slice of a former chlor-alkali plant, at Banksmeadow.

The deal for Lot 9, 28 McPherson Street, at the north east corner of Nant, is worth $82.5 million – or about 21 per cent over guide.

The parcel was offered permit-ready for two office/warehouses containing a total of 21,780 square metres, however multi-storey facilities could be considered instead.

Any buildings, as well as a car park and hardstand area, would sit on a suspended concrete platform beneath with Orica will maintain a water retaining basin.

Goodman holds substantial product in the area including the parcel immediately west of Lot 9, 28 McPherson St; known as the Port Botany Industrial Estate, it extends to Coal Pier Road.

“This acquisition forms part of Goodman’s strategy to meet the increasing demand for strategically located logistics space with easy access to large consumer markets,” Goodman chief executive officer, Jason Little, said of its latest asset.

“Redevelopment of brownfield and infill sites, like this Banksmeadow property, are in high demand by our customers and are supported by the public sector,” he added (story continues below).

“Such developments are beneficial to the environment as they reduce the amount of greenfield land developed, re-use existing infrastructure, and because they are close to consumers, they lower transport-related emissions”.

Colliers’ Gavin Bishop, Michael Crombie and Sean Thomson represented Orica, which occupied the Banksmeadow block since 1944.

In Melbourne, the explosives maker last year listed a 66.96ha piece of its landmark Deer Park chemical plant, which it started remediating in 2019.

The majority of that property is also expected to make way for industrial product.

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Marc Pallisco

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