Strategic infill property in Kurnell has been sold by Colliers & Stanton Hillier Parker and purchased by Centennial and MaxCap, who have intentions for redevelopment
A landmark 11-hectare industrial infill site in the tightly held Sutherland Shire has been sold for approximately $65 million, following a highly competitive campaign led by Colliers’ Matthew Meynell, Trent Gallagher and Edward McFarland, in conjunction with Stanton Hillier Parker’s Andrew Hunter, Eugene Evgenikos and Darren Benson, on behalf of RSM Australia Partners, appointed as Receivers and Managers over the property.
Located at 260B Captain Cook Drive, Kurnell, the site comprises two existing warehouse buildings totalling 5,213 sqm, extensive hardstand areas and 8.2 hectares of usable land zoned E4 General Industrial. The property was acquired by a joint venture between Centennial and MaxCap Group, with plans to deliver a multi-lot industrial subdivision and refurbish the existing assets.
The campaign generated over 225 enquiries and resulted in thirteen offers across the initial, second and best and final rounds. Interest was received from a diverse mix of developers, land bankers, high-net-worth investors and syndicates.
“This transaction highlights the continued demand for scalable industrial land in Sydney’s south. The site’s zoning flexibility, strategic location and development potential made it a standout opportunity for a wide range of buyer types,” said Matthew Meynell, Managing Director, Office Capital Markets & Investment Services | Australia.
Trent Gallagher, National Director, Property Sales & Leasing | Industrial & Logistics added, “Kurnell is one of the most land-constrained precincts in Southern Sydney with vacancy below 1%. The site’s proximity to Port Botany, Sydney Airport and the planned M6 Motorway positions it as a compelling alternative for users seeking scale and connectivity.”
The property’s zoning allows for a range of future uses including industrial outdoor storage, subdivision and purpose-built logistics facilities. Centennial and MaxCap intend to deliver a multi-lot industrial land subdivision comprising over 25 lots ranging from 1,500 to 4,600 sqm, refurbish and re-lease the two existing warehouses and explore further value-add options including a staged redevelopment or open-air industrial storage estate. The site was acquired at approximately $700 per sqm of usable land, well below rates in neighbouring precincts highlighting the site’s value.
The surrounding region is home to major occupiers including Dicker Data, National Storage, Ampol, and the NSW Desalination Plant with ongoing infrastructure investment and gentrification underpinning future growth.
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