On the back of online shopping and ecommerce growth, the South Western Sydney industrial market is experiencing an unprecedented boom. Consumers are expecting faster delivery times, this has resulted in heightened demand for inner city distribution centres and last mile hubs that allow retailers to position inventory much closer to the end consumer.
Colliers is proud to introduce Western Sydney’s first multistorey industrial opportunity located at 28 Yarrunga Road, Prestons, on behalf of private developer Favelle Favco. A long-term business in South Western Sydney, Favelle Favco specialises in crane technology for heavy lifting and super high-rise buildings.
“We are honoured to present Western Sydney’s first two-level industrial facility, Favco Industrial Park is a state-of-the-art warehouse, logistics and office facility featuring multiple tenancies,” Fab Dalfonso, National Director Industrial for Colliers, says.
The Favco Industrial Park will deliver world-class logistics facilities with tenancies over two levels ranging from 6,842sqm to 30,592sqm. Standout features include super-high internal clearance, truck access with B-Double compatibility across two levels, and multiple recessed loading docks. The tenancies are available nine to 12 months from signing the lease.
“Favco Industrial Park is positioned in one of the most well-located industrial precincts in NSW. The area delivers outstanding access to arterial roads, alongside key national infrastructure including Moorebank Intermodal and the under-construction Western Sydney Airport at Badgerys Creek,” Rino Gazzera, Director Industrial for Colliers, explains.
Favelle Favco saw an opportunity to introduce a new and more efficient way of managing industrial warehousing needs in Australia.
“Favelle Favco’s cranes have always been intrinsic to the construction of most of the world’s tallest buildings. Our business thrives on the challenge of delivering solutions that will meet and exceed the expectations of these demanding projects,” Favelle Favco says. “With Favco Industrial Park, we are adopting the same approach and are steadfast in our commitment to developing this landmark multistorey warehouse”.
“By bringing a sleek new offering to the warehouse model we believe Australia will embrace the efficiencies. The flexible warehouse space takes full advantage of the 30m height limit by cleverly threading a series of ramps, which provide seamless B-Double access to all levels.
Award-winning architects Bureau SRH, responsible for Favco Industrial Park’s world-class design, believes multi-storey warehouse design is pivotal to any future A-grade industrial development given demand for convenient Sydney-based warehouse solutions continues to soar.
Current warehouse demand is exceeding supply and has pushed South Western Sydney vacancy rates under 4.3%, this combined with land shortages across Sydney, is likely to see multistorey warehousing shape the next phase of industrial property. Luke Crawford, Director of Industrial Research for Colliers, recently launched a whitepaper ‘Multi-Storey Warehousing in Australia’.
“Multi-level warehouses have existed in the Asia Pacific region for decades, particularly in the more developed markets of Japan, South Korea, Singapore, and Hong Kong, where dense populations and limited land availability have made them a necessity. With land supply continuing to diminish in the Sydney basin, multistorey warehouses will be the new normal,” Mr Crawford says.
In line with Favco Industrial Park launching, Colliers anticipates first movers will take advantage of the multitude of benefits that come with a multistorey facility, one that combines best-in-class design with building functionality. There has already been significant interest from logistics providers on the four warehouses available.
“Since our soft launch three weeks ago, we’ve already fielded several dozen enquiries on the space from occupiers who are keen to reduce their outgoings, maintain a key location and benefit from a brand-new facility for their business,” Mr Dalfonso says.