Mirvac Plots Penrith Industrial Masterplan Next Stage

Mirvac’s plans for the latest stage of its Aspect Industrial Estate in Penrith are now on exhibition. 

The developer’s Industrial Developments division has lodged a concept approval and state significant development application for the site at 788-882 Mamre Road, Kemps Creek. 

With a capital investment value of more than $60 million, it is considered a state significant development and has this week gone on exhibition.

The overall $700-million masterplan for Aspect was approved last year and includes 11 buildings with a total of 248,112sq m of gross floor area dedicated to industrial, warehouse and cafe uses. 

If approved, the current development application for Stage 4 will allow Mirvac to build a two-part warehouse, the first section delivering  34,900sq m of ground floor warehouse area, a 2500sq m of warehouse mezzanine, and 800sq m of office space. 

The second half of the warehouse will consist of 5300sq m of warehousing and 350sq m of office space.

It also includes modifications to previous stages of the development, largely modifying and reconfiguring onsite infrastructure plans and cutting slightly the GFA of the warehouse being delivered in Stage 1. 

Located in Penrith’s Mamre Road Precinct, the site sits alongside land owned by GPT Group and Altis Property Partners. 

The precinct was rezoned in June 2020 for industrial and warehouse use. 

The intended outcome of the project, the developers said, was to meet the demand for warehousing space in NSW in a strategic precinct close to the new Nancy Bird Walton Airport. 

Sydney is a tightly held space for industrial development with only 4 per cent (or 585ha) of the total industrial-zoned land in the Sydney Metropolitan Region declared as undeveloped and serviced, according to CBRE.

Major developers inevitably have the upper hand in such a market, and have invested heavily, such as Aliro’s recent plans for a former Toyota site in Sutherland Shire, although elsewhere developers such as Logos have had more difficulty getting projects over the line.