National tenants attracted to outstanding Southerland Shire Industrial estate13 December 2023
The second stage of a best-in-class industrial development delivered by Aliro is offering multiple tenancies in an attractive location at the heart of the Sutherland Shire.
The brand-new industrial buildings at the TripleTwoNine Estate in Caringbah are suited to a variety of occupiers, with tenancy sizes ranging from between 150sqm to 25,517sqm.
The 24/7 operational estate has already attracted national tenants through the inaugural stage including Australia Post and Woolworths DC Centre, who were drawn to the state-of-the-art facilities to meet the evolving needs of modern enterprises.
The second stage industrial is being offered exclusively for pre-lease through the Colliers team of Trent Gallagher and Edward McFarland.
“Prospective businesses will have access to a range of brand-new industrial buildings available for pre-lease. These spaces are meticulously designed to offer the utmost in functionality and flexibility, ensuring they serve as the perfect canvas for businesses to grow and thrive,” Mr. Gallagher said.
“Given the large imbalance between supply and demand across the Sydney market, rental growth is currently at record levels as tenants compete for limited warehouse options. This thematic has been no different for the Sutherland Shire as higher rents in South Sydney have pushed occupiers further south,” Mr. McFarland added.
At present, industrial rents in the Caringbah and Taren Point region for quality stock are sitting at $300 to $320 per sqm net, or $330 to $370 per sqm gross. This compares favourably with the South Sydney market where a recent deal in Alexandria within a 14,000m B/C grade building was done at $480 per metre gross with no incentive.
Given this higher rental base, there has been growing interest in more affordable precincts such as the Sutherland Shire, including Caringbah, which offers substantially lower occupancy costs while still being near the same catchment and infrastructure network.
The Development Application (DA) for Stage 2 has been lodged with approval forecasted for mid-2024. With efficient loading to all units and warehouse options, the estate is targeting a 4-Star Green Star rating and offers corporate style office and amenities in each tenancy.