This article is from the Australian Property Journal archive
AMP Capital has started works on the first stage of its $130 million development at the Crossroads Logistics Centre in the south-west Sydney suburb of Casula.
This follows Spanish-owned, global surface supplier and distributor Cosentino Australia’s commitment to a 12,500sqm facility in the centre for its Australian distributions centre and showroom.
The centre is owned by investors in AMP Capital’s Diversified Property Fund and once completed will feature around 79,000sqm of warehouse and office space across three separate precincts.
AMP Capital Diversified Property Fund fund manager Kylie O’Connor said the group has obtained development approval from Liverpool Council for Precinct A and development applications for Precinct B and C have also been lodged.
Prime Constructions has been appointed as construction partner, with the Cosentino building slated for completion in the first quarter of 2017.
O’Connor said the development is consistent with the fund’s investment strategy to maximise fund performance through the development of its existing assets.
“Once complete, Crossroads Logistics Centre will become the cornerstone of our industrial and logistics portfolio as we look to deliver superior investment returns for our clients.
“The development of Crossroads Logistics Centre follows the fund’s recent acquisition of a $250 million prime Sydney industrial portfolio, continuing our deliberate strategy to increase exposure to the industrial sector,” she added.
Australian Property Journal
