This article is from the Australian Property Journal archive
SWEDISH renewable materials specialist, Stora Enso, has leased a major distribution facility in Sydney’s Wetherill Park from Stockland.
Stora Enso has leased the 5,988 sqm warehouse and as part of the deal, Stockland agreed to construct a 9,000 sqm hardstand on latent land on the site at 2 Davis Rd.
LJ Hooker Commercial Silverwater director Marcel Elias negotiated the deal.
Stora Enso will enter a five-and-a-half year lease on an annual rent of $883,770 with annual review of 3.35%.
“Twelve months ago, Stora Enso approached LJ Hooker Commercial Silverwater to find a distribution facility with a large amount of external spacesuitable for or currently operating as a hardstand yard.
“Following a survey of the limited opportunities in proximity to the M7, we identified three potential sites and engaged with the landlords on the specific tenant needs,”
“For Stora Enso, they’re able to position their operations in a quality warehouse with bespoke hardstand, with efficient access to a prime distribution corridor.
“For Stockland, they’ve now acquired a global tenant which has committed to an agreement which yields $102.50 per sqm for the warehouse component, and $30 per sqm for the hardstand,” Elias said.
Stora Enso is global supplier of renewable materials for print media, the construction industry and logistics specialists. In 2014, the company delivered a revenue of €10.213 billion.
Australian Property Journal
