Realterm Splashes $89m on Sydney Industrial Assets

Transport and trucking global investment manager Realterm has expanded its footprint with the acquisition of two Sydney assets. 

The $89-million acquisitions comprised 5-9 Lancaster Street at Ingleburn and 2A Mavis Street at Revesby, and they will sit within Realterm’s second Australian fund, which it launched in May 2025. 

The tightly held Ingleburn logistics market has no vacancy and strong fundamentals underpinning the acquisition of the 23,900sq m truck terminal with a 10,900sq m warehouse and excess hardstand space, according to Realterm fund manager Toni Ryan. 

Ryan said these acquisitions increased Realterm’s Sydney portfolio to five assets, reinforcing its strategy of aggregating highly functional, hard to replicate industrial assets in infill locations where supply remains deeply constrained.  

“Revesby adds a high-quality IOS (industrial outdoor storage) site supported by compelling property fundamentals, while Ingleburn provides a differentiated logistics facility with strong underlying land value,” Ryan said. 

“The addition of these assets strengthens our platform and deepens our exposure to assets that are operationally critical to transport and logistics users.” 

Realterm acquired 2A Mavis Street, Revesby, for $50 million in an off-market deal. 

▲ Realterm fund manager for Australia Toni Ryan said they were targeting hard-to-replicate infill assets in constrained markets, such as Ingleburn (pictured).

The asset comprises a 27,447sq m industrial outdoor storage (IOS) site near the M8/M5 motorway network, leased to ASX-listed business Acrow, which has occupied the site for more than 15 years. 

Sites of this scale and functionality are increasingly scarce in Sydney’s tightly held infill industrial market, where competition for low site coverage landholdings continues to intensify, Realterm’s head of investments Charlotte Brabant said.  

She said Realterm’s recent leasing success at 77 Governor Macquarie Drive further reinforced its conviction in both this submarket and the performance of IOS assets.

“Our pace of deployment reflects both the depth of opportunities we are identifying and our conviction in Sydney’s south-west industrial corridor,” Brabant said.

“The fundamentals across rental growth, tenant demand and scarcity of these low site cover sites continue to validate our strategy, and these assets align perfectly with our fund’s objectives.” 

Trent Gallagher and Hamish Miles of Colliers assisted Realterm with the Revesby transaction.