A landmark ‘last mile’ industrial & logistics estate could be created at Rosehill with the sale of one of Sydney’s largest ever infill industrial & logistics sites.
CBRE’s Jason Edge and Michael O’Neill together with Colliers International’s David Hall and Tony Durante, have been appointed to market the vacant 25.6ha Rosehill Central site, which is located diagonally opposite Rosehill Racecourse in one of Australia’s most sought after industrial & logistics precincts.
Once part of the former Shell site, the land can be sold in one line or as individual/multiple serviced lots, with the potential to deliver over 140,000sqm of space with a potential end value of over $1 billion.
CBRE’s Mr O’Neill said institutional developers had a strong focus on infill development sites, with over $500 million in central western Sydney transactions this year.
“The successful Rosehill Central purchaser will be able to capitalise on the lack of competing stock in the market and the huge volume of enquiry for industrial & logistics space in Sydney’s central west, which has accelerated by 20% due to rising e-commerce penetration” Mr O’Neill said.
“There is more than 200,000sqm of pent-up tenant demand in the central west market with a vacancy rate of just 0.34%. These market fundamentals have triggered 10% rental growth in Q1 2022 alone, with minimal new stock expected until 2024.”
Colliers International’s David Hall said the Rosehill Central site represented one of the last remaining large scale industrial & logistics development sites east of Parramatta.
Zoned IN3 Heavy Industrial, the land offers a broad range of permitted uses, with the approved 13-lot subdivision allowing for sites ranging in size from 8,060sqm to 36,330sqm.
“This location provides seamless access to the densely populated centres of Sydney, creating the perfect last mile logistics location and an exceptionally efficient e-commerce location supported by lower inbound and outbound transportation costs, lower toll costs and proximity to population and key logistics infrastructure,” Mr Hall said.
Located on the corner of Devon Street and Colquhoun Street, Rosehill Central is situated in close proximity to James Ruse Drive, Victoria Road and the M4 Motorway and within 4.3km of the Parramatta CBD.
It is being offered for sale in tandem with an unprecedented $93.3 billion NSW Government infrastructure spend in Western Sydney, which is creating improved connectivity with South Sydney.
Stage 3 of the Westconnex is scheduled for completion in 2023 and will deliver an estimated drive time saving of 40 mins between the Western Sydney and South Sydney and accelerate rental growth in the Central West.
Rosehill Central also offers excellent labour availability, with a working population of 1.6 million situated within 30 minutes travel time.
Expressions of Interest close 14 June 2022.
Related Articles
