Property group Frasers has acquired two prime industrial sites in Eastern Creek in Western Sydney.
Acting on a continuing trend of high demand for industrial property and a “once in a generation” infrastructure spend as part of the state and federal government’s $3.6 billion Western Sydney Infrastructure Plan, Frasers acquired more than 13 hectares in the area.
The first site offers 10 hectares on Burley Road in Horsley Park, and was purchased from building products company CSR.
The second, smaller, site of 3.5 hectares shares a common boundary with Frasers Property’s Eastern Creek Industrial Estate on Eastern Creek Drive, and was purchased from developer Jacfin.
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“The two land acquisitions are strategically positioned to capitalise on the rapidly expanding Western Sydney region.”
--Frasers Property general manager Ian Barter
“Demand is very strong in this area, which is driven by displaced users from traditional industrial regions, a once in a generation infrastructure spend, strong population growth and a critical shortage of land,” Barter said.
“These purchases further restock our landbank in a highly sought-after area and will help us maintain a strong presence.”
The new sites will accommodate up to 81,510sq m of warehousing for corporates, third party logistics providers and local manufacturers.
The latest acquisitions will join Fraser’s existing industrial portfolio which include over $950 million worth of Fraser-developed product in the region.
Frasers recently paid $19 million for a 23-hectare parcel of industrial land in Melbourne’s south-east with intentions of building an industrial estate, which would add new industrial projects to their existing plans to create $190 million worth of new assets in The Key Industrial Park in the South East, and West Park Industrial Estate in Melbourne’s West.
