Industrial giants are out to create the most desirable multi-level logistics centres in the country and it is coming to a head on a road in Sydney’s inner-south.
Goodman Group is the latest developer to win approval for a multi-level warehouse with an office facade at 546-548 Gardeners Road, Alexandria.
The site is two industrial doors down from Charter Hall’s new development at number 520, a three-level centre with 21,654sq m of warehouse and 5,677sq m of office space.
“The site is in a transition area between the newer industrial style of building along Gardeners Road and the older industrial warehouses along Alexandra Canal,” the assessment report by NSW Department of Planning and Environment said.
Goodman is yet to find a tenant for the twin-warehouse development on the 2.5ha site with a capital investment value of $75 million.
The building designed by Grimshaw with 19,844sq m of warehouse and 2,686sq m of office space meanstenants can access offices, end-of-trip facilities and recreational terraces.
Australia Post is the currently tenant of the single-storey warehouse and distribution centre on the site.
In June, Goodman completed a 33,680sq m automated parcel facility for Australia Post in Kemps Creek.
Goodman’s Alexandria project is one of many designed by architects raising the bar on industrial design and it is particularly true for Gardeners Road ,where one side of the street is industrial and the other residential.
Warehouses with office facades are fast becoming the standard around Sydney, such as SBA Architects’ plans for a two-level warehouse for Hale Capital in Punchbowl lodged din August.
And Mijollo International Architects won praise for its design of a 10-storey storage facility in Mascot for Chapter and Co.
The industrial market continues to outperform other sectors in property, with high occupancy rates and growth post-pandemic continuing.
Goodman Group recently posted an operating profit of $1.783 million, up 17 per cent on the previous year. It said quality locations had been the driver for this gain.
Rental growth, property values and development activity were noted in the resutls along with a switch to delivering data centres which represented 30 per cent of Goodman’s $13 billion development workbook.
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