LogiSPACE snaps up Sydney logistics site
LogiSPACE has settled on the purchase of its maiden asset – a 6.54 hectare industrial site at Chester Hill, near the Villawood border, in Sydney’s Central West.
Prior to settlement, the Macquarie Asset Management-backed platform led by ex-LOGOS executives Darren Searle and Troy Bryant, submitted plans to replace 191 Miller Road with two warehouses.
Split into six tenancies they would contain a total 35,826 square metres.
The proposed end value is about $238 million.
It would replace three small warehouse/office buildings at the south-west corner and northern parts of the block, where it abuts the Main Southern Railway line.
It was previously used for waste processing and resource recovery, after a longer industrial history that included chemical and fertiliser manufacturing and storage.
The NSW Environment Protection Authority declared 191 Miller Road significantly contaminated land in 2023, citing chlorinated solvents including trichloroethene and related compounds associated with historical chemical manufacturing activities.
24-hour estate planned
LogiSPACE’s development application includes remediation, demolition, earthworks and flood-management works as an initial stage, followed by construction and operation of the warehouses.
Loading docks, hardstand areas, 147 car spaces and a new vehicle crossover from Miller Rd also form part of the design.
The estate is planned to operate around the clock, seven days a week (continues below).
The development will have an overall FSR of 0.46:1.
Units range from 4273-17,860 sqm.
Completion is scheduled in early 2028.
LogiSpace boosts pipeline
The deal comes three months since realestatesource.com.au reported LogiSPACE made its maiden Queensland investment – sites opposite each other in Brisbane’s Brendale – for $34.2m.
A $167m project is planned there with a combined 35,207 sqm.
LogiSPACE also has a Melbourne project in the pipeline at 422-426 Somerville Rd, Tottenham.
That site is earmarked for another logistics estate.
Chester Hill is about 25 kilometres from town.
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