GPT Group has found a tenant to occupy a logistics centre it built speculatively in Sydney’s Huntingwood.
The property giant made an announcement today – dated tomorrow – about the 11,000 square metre lease.
Known as 1 Huntingwood Drive, this seven hectare holding included a 21,200 square warehouse, formerly occupied by Sharp Corporation, which has since been refurbished and fully leased to the ASX-listed IVE Group.
With exposure to the Great Western Highway, Huntingwood Drive is close to the M4 and M7 interchanges, GPT’s head of development, logistics, Darren Hunt said.
“The leasing of the [1B Huntingwood Drive] facility before it had reached practical completion was a great outcome for the group.
“Our ability to lease the new Huntingwood facility is another endorsement of GPT’s strategy to accelerate the delivery of its logistics development pipeline through speculative development.
“Demand for logistics space remains very strong in Sydney and we expect vacancy to remain tight for the foreseeable future”.
Huntingwood is about 35 kilometres west of the CBD.
GPT is developing another logistics development on a speculative basis at The Gateway in Eastern Creek. Due for completion later this year, this 30,000 square metre complex is on Old Wallgrove Road.