Warehousing and LogisticsLindsay SaundersWed 11 Nov 26
Brookfield, Goodman Trade Sydney Logistics Stronghold in $203m Deal
Brookfield will pay $203.5 million to Goodman Group for a Sydney logistics facility as major investors continue to trade large-scale commercial property assets in Australia.
The 45,780sq m distribution centre at 30–50 Yarrawa Street, Prestons, in south-west Sydney, is fully leased to global transport and logistics company Mainfreight.
The 8.5ha property is next to the M7 motorway and has access to the Moorebank intermodal terminal, Sydney Airport, Western Sydney International Airport and Port Botany. Settlement is expected later this month.
Goodman acquired the first part of the holding in 2005 for $24.8 million, before expanding the site around Mainfreight’s operations.
The occupier committed to the original facility in 2007, when two warehouses provided a combined 20,510sq m of space. Subsequent expansions increased the scale of the operation.
Brookfield is a global alternative asset manager with investments across real estate, infrastructure and private equity. Its property business invests in and operates assets across sectors including offices, logistics, retail and housing.
The acquisition comes as Brookfield reshapes its Australian property holdings. In July, it agreed to sell a 50 per cent interest in Sydney’s World Square office buildings at 680 George Street and 50 Goulburn Street to Centuria Capital for $454 million.
The deal was among several major office transactions in 2026, as institutional investors traded assets across Sydney and Brisbane.
In May, Charter Hall moved to consolidate its control of Sydney’s O’Connell Street office precinct through a series of transactions with Lendlease’s Australian Prime Property Fund Commercial, following its acquisition of a 50 per cent interest from the Abu Dhabi Investment Authority for more than $500 million.
Charter Hall is Australia’s largest diversified property funds manager, with more than $94 billion in funds under management across office, industrial and logistics, retail and other property sectors.
The group is also developing the $1.8 billion Chifley South office tower in Sydney’s CBD. The 37-storey building reached its highest structural point in November, with more than 10,000sq m of additional commercial and retail leasing secured.
It forms part of the Chifley precinct, which is expected to have an end value of about $4 billion when both towers are complete.
In July, Dexus sold a three-building office portfolio spanning Sydney’s Barangaroo precinct and Brisbane’s CBD to BGO, Investa and Cliffbrook Capital for $715 million.
The deal included 30 The Bond and 36 Hickson Road in Sydney and 123 Albert Street in Brisbane.
