This article is from the Australian Property Journal archive
BROOKFIELD’S Australian logistics platform has hit $1.25 billion in assets under management following completion of its Connect Central Sydney Logistics Estate in western Sydney’s Villawood, and the company is looking to double the size of the portfolio by the middle of 2026.
Connect Central Sydney Logistics Estate is located on a 12.6-hectare site at 2 Christina Road and has a total net lettable area of 69,000 sqm across 12 individual buildings with areas ranging from 2,000 sqm to 18,000 sqm.
The estate targets small and medium-sized businesses seeking last-mile storage facilities. Brookfield said more than 90% is leased or under advanced negotiation, with confirmed tenants including Kerry Logistics, Honest to Goodness, Scope Joinery, Ricky Richards, FJT Logistics, Seima and Euro Car Parts.
Built by Vaughan Constructions and jointly delivered by Time & Place and Brookfield Properties, the Villawood estate offers connectivity to Sydney’s motorways and arterial road network, facilitating access to Parramatta, Sydney CBD, Sydney Airport and Port Botany. Its strategic infill location provides access to approximately 4.5 million people and 1.5 million households within a 60-minute drive, or just over 80% of greater Sydney’s total population.
“We have been focused on building our exposure to logistics, capitalising on record low vacancy in Australia’s major cities where there’s a supply and demand mismatch,” said Ruban Kaneshamoorthy, Brookfield co-head of Australia real estate, said.
“Our aspiration is to more than double the size of our portfolio during the next 18 months.”
Brookfield has two additional sites in Melbourne scheduled for development. Once complete, there will be approximately 330,000 sqm of net lettable area.
Last year, Brookfield and Centennial teamed up to launch the new $700 million industrial and logistics Enhanced Value Partnership fund, with a strategy to target niche, mid-sized or underperforming assets in urban markets with limited supply, that are often overlooked by institutional investors.
Among its acquisitions have been two assets in northern Sydney’s Brookvale, from ASX-listed Centuria, for around $163 million, which comprise an 41,870 sqm infill landholding and warehouses occupied by Woolworths Group, Fujifilm, Services NSW and local library supplier James Bennett.
