This article is from the Australian Property Journal archive
MIRVAC has outlaid $71 million to acquire a 54-hectare industrial in Sydney’s Badgerys Creek, becoming the latest major player to secure a presence in the area ahead of the introduction of the western Sydney airport.
The land will make way for a logistics facility just 800 metres from the proposed airport, after the group entered into a put and call agreement. It will mark the first stage of an industrial estate, the Elizabeth Drive Enterprise Precinct, that Mirvac has exclusive rights to buy the following stages of.
“Our vision for the site is to set a new benchmark for logistics facilities in an emerging part of western Sydney, through the creation of superior investment grade assets with an emphasis on quality, flexibility, technology and sustainability,” Mirvac general manager industrial, Richard Seddon said.
The site presents an attractive opportunity for logistics operators, located close to the airport site as well as the North South Rail Link and the M12 Motorway.
In May, ASX-listed Boyuan Holdings Limited announced its Northern Gateway master planned 344-hectare project to the north of the airport site, to be developed by a consortium that includes Western Sydney University (WSU) and Scentre Group.
Boyuan said the land offers a pipeline of up to 9,000 dwellings for more than 22,000 people, and $14.3 billion to the western Sydney region’s economy. It will include a new Westfield shopping centre, more than 200,000 sqm of commercial space, a health precinct, and The Northern Gateway Logistics Estate, to be operated by international group Logos.
Australian Property Journal
