Australian Pharmaceutical Industries – the parent of Priceline Pharmacy, Soul Pattinson Chemist and Pharmacist Advice – has pre-committed to a Marsden Park Developments warehouse in Sydney’s west.
The proposed 32,506 square metre distribution centre will occupy a 4.4 hectare parcel within the $2.9 billion Sydney Business Park, a master-planned village with construction entering a third stage.
The landlord, tenant, and TM Insight – the national advisory for industrial occupiers which connected the pair – are estimating the Hollingsworth Road, Marsden Park, facility will be worth about $75 million upon completion in the second half of next year.
The initial term is 15 years.
Marsden Park is about 50 kilometres from the city.
Last week LF Logistics expanded its presence at a nearby estate being developed by LOGOS – to c22,700 sqm.
Ten months ago ASICS Oceania opened a c30,000 sqm distribution centre on 5.7 hectares, on Richmond Road, within Sydney Business Park – that asset’s opening event attended by rugby players Cooper Cronk and Kurtley Beale, tennis star Sam Stosur, netballer Caitlin Bassett and high-jumper Brandon Starc.
API’s Marsden Park facility
The proposed property is intended to bolster API’s supply chain and will include a 7440 sqm basement for vehicle dispatch (story continues below).
It will be temperature controlled, with automated storage, a 500 kW solar system and rainwater harvesting for landscaping and amenity reuse.
“The new distribution centre will provide significantly greater operational benefits through a leading edge automation system and smart warehouse design that maximises floorspace and promotes safety and sustainability,” API general manager, Supply Chain and Consumer Brands, Jim Redfern added.
Jack Moroney acted for TM Insight, which will oversee construction.
Matt Foldes, Sydney Business Park’s sales and leasing director, represented the landlord.
Colleague Owen Walsh, development director, said more than $1b of investment has been constructed within the seven year old estate.
Occupiers include Aldi, Ausred, Dulux, IKEA, JB Hi Fi, Forty Winks, Lindt and The Good Guys.
Axalta committed long-term to a 10,200 sqm facility early last year.
Upon completion Sydney Business Park is expected to be the source for about 23,500 jobs.