Leading warehouse and logistics development group, HB+B Property, has closed a major funding deal for its Alspec Industrial Business Park project in Orchard Hills.
The $625m funding deal was completed with Madigan and CapitaLand providing capital to develop the site infrastructure plus over 115,000sqm of warehouse and logistics space in the first stage of the project.
The site, which will ultimately contain over 580,000sqm of space, is strategically located on Luddenham Rd between the M4 and Western Sydney Airport, providing excellent access for transport and logistics users to all areas of Sydney and NSW.
The private owners of the site engaged HB+B Property group in 2020 to progress the re-zoning and development of the 120ha site, which HB+B secured in 2024
Pre-commitments to the site have already been secured and will be announced shortly.
Development approval for the infrastructure works was recently approved by Penrith City Council and approval for the first warehouses on the site are expected to be issued in the next month.
HB+B Property Managing Director, Kurt Beckhaus said “this funding deal demonstrates the capacity of HB+B Property to secure capital for large scale projects and enables the team to deliver the warehouses without further funding constraints.”
“The Madigan and CapitaLand teams have been excellent to work with, and we remain in active discussions on other opportunities.”
HB+B Property is now managing a pipeline of over $5.0bn in end value projects including the Burrah Park site on Elizabeth Drive and an ex-Orica site in Deer Park.
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