​​Botany Industrial Park Redevelopment to Shape Sydney’s Industrial Future​

​​With Indorama Ventures and Qenos ceasing operations, the once-in-a-generation industrial land with commanding scale is bound to be acquired​ 

Colliers is proud to exclusively lead the listing of the iconic 77 Denison Street, Banksmeadow, a substantial 71,800 sqm land holding that represents a generational opportunity with significant development potential. Colliers’ team of Michael Crombie and Trent Gallagher are handling the sale, with price expectations starting at $175 million. 

This landholding is renowned not only for its prime location within one of Banksmeadow’s most tightly held industrial precincts, but also for being home to the historic Botany Industrial Park (BIP). Established in the 1940s, BIP became a cornerstone of Australia’s chemical industry. 

Originally owned by ICI Australia, it was subdivided in 1998, resulting in multiple owners. As of 2024, key stakeholders involve Indorama Ventures, and two other third party owners, with IXOM also operating on-site. The park includes industrial facilities and infrastructure, with a third party owner managing groundwater treatment and legacy waste.  

However, major changes are underway following the shutdown of Qenos and Indorama operations. ESR, who has acquired Qenos’ land, is now planning a major redevelopment, set to transform BIP into one of Sydney’s largest industrial and logistics precincts.  

Colliers Director in Charge, Sydney South, Michael Crombie, said, “With a surge of investor and developer interest for well-placed, strategically located land, this 7Ha land opportunity could not come at a better time. The market has been waiting decades for the sell-down of the Botany Industrial Park and with the recent acquisition by ESR of the adjoining Qenos land, Indorama is now the next cab off the ranks.”  

The site will be sold with a carefully reviewed Remediation Action Plan to mitigate risks and unlock its full potential, rising anew from the bitumen. With unmatched flexibility and long-term development potential, it is ideal for confident developers and occupiers who want to explore numerous development options across multi or single-level industrial warehousing, intermodal, data centre or hardstand uses. 

Colliers National Director, Property Sales & Leasing | Industrial & Logistics, Trent Gallagher, added, “The South Sydney industrial market is the most land-constrained in Australia, historically characterised by a concentrated ownership base of institutional landlords. This significant landholding offers a rare opportunity to establish a strong foothold in this tightly held precinct through the development of either multi-level or single-level industrial warehousing.” 

South Sydney remains Australia’s most land-constrained industrial market, with limited greenfield opportunities left for development. This scarcity has intensified competition for space, particularly in tightly held precincts like Banksmeadow, where demand continues to outstrip supply. 

Following the commencement of the interest rate cutting cycle, investor sentiment has rebounded strongly. Both domestic and offshore capital are re-entering the market with renewed confidence, and investment activity is projected to surpass 2024 levels as capital deployment accelerates. 

“Sydney’s industrial sector continues to lead nationally, recording 284,548 sqm of gross take-up (for spaces over 5,000 sqm) in Q2 2025, an impressive 20% increase year-on-year. This surge underscores the city’s role as a key driver of industrial growth across Australia.” 

“In South Sydney, the ongoing supply-demand imbalance has driven significant rental growth, with net face rents rising by 84% over the past five years. This upward trajectory reflects the premium placed on well-located, high-quality industrial assets in a market where land availability is increasingly scarce,” Mr Crombie concluded.  

77 Denison Street, Banksmeadow is offered for sale via an International Expressions of Interest (EOI) sales campaign, closing at 12:00pm (AEST) on Wednesday 3rd September 2025.