The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 THE UNMISSABLE EVENT FOR PROPERTY PROFESSIONALS IN THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 UNMISSABLE FOR PROPERTY PROFESSIONALS
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
IndustrialClare BurnettTue 27 Aug 24

Centuria Lodges $50m Distribution Centre Plans

Centuria Wetherill Park EDM

Centuria has lodged plans for a $50-million speculative distribution centre in Sydney’s Wetherill Park. 

A planning report from Urbis on behalf of Centuria Capital Ltd detailed the listed investor’s plans for the site at 88 Newton Road on Dharug Country. 

Designed by SBA Architects, the plans submitted to Fairfield City Council for the 5.9ha site propose a single-storey warehouse and distribution centre. 

It will include ancillary offices and carparking for 213 vehicles, and have a total gross floor area of 30,250 square metres.

Centuria has also submitted a State Significant DA for a 57,000sq m multi-storey industrial development on the site, which Centuria Industrial REIT (CIP) fund manager and head of listed funds Grant Nichols said was a strategy play.

“The reason for two applications is to maintain optionality across the Wetherill Park site,” he told The Urban Developer. 

“We will determine the most appropriate solution based on prevailing tenant demand and investor appetite.”

The buildings onsite, which will be demolished to make way for the new development, are two distribution centres, used by Weir Minerals Group and hardware maker ITW Proline. 

The site is east of the M7 motorway, with access to the M4 motorway to the north. 

Future tenants had not yet been confirmed, Centuria’s development application stated, but the building would be designed to house a typical warehouse or distribution occupier. 

1 of 4


“Wetherill Park is an urban infill industrial market characterised by its close proximity to densely populated areas, being close to the geographical centre of Sydney,” Nichols said. 

 “Currently, urban infill markets are supply constrained as tenant demand is highest in these areas and there is limited development opportunity.

“These markets enable operators easy access to end-users as well as a consistent labour force.”

Centuria Capital posted its annual financial results this month and alongside retail, industrial proved to be a bright spot. 

The funds manager executed more than 300,000sq m of leasing and announced a $1-billion pipeline for CIP.

It recently opened the doors to its $116-million super-prime industrial estate in Melbourne’s north, following a $500-million mandate announced last year focusing on industrial assets.

Considered the ‘golden child’ of the Covid period, industrial has remained relatively strong, fuelled by private capital investors.

They accounted for 53 per cent of the logistics and industrial (L&I) investment market so far in 2024, a significant rise from the long-term average of 15 per cent, according to agents JLL.

IndustrialInfrastructureSydneyPlanningProject
AUTHOR
Clare Burnett
More articles by this author
ADVERTISEMENT
TOP STORIES
MONARK co-founders Michael Kark (CEO) and Adam Slade-Jacobson (CIO)
Exclusive

Finding the Sweet Spot: How Monark Built its $2bn Property Empire

Leon Della Bosca
6 Min
Exclusive

Sydney’s Fear of Heights Holding Back Housing

Vanessa Croll
6 Min
North Melbourne Craigieburn HB Land EDM
Exclusive

Tribunal Finding Cruels 1000-Home Melbourne Plan

Clare Burnett
5 Min
Roseville Hycorp EDM
Exclusive

Ku-ring-gai TOD Backflip Slashes 1500 Homes from Under-Way Developments

Clare Burnett
7 Min
Exclusive

Housing Fix Sprint Begins with New Top Planner Pushing 13 Regional Plans

Phil Bartsch
8 Min
View All >
Clarke Hopkins Clarke's rendering of the clubhouse for Levande's Highton seniors living project in Geelong.
Retirement & Aged Care

Seniors Living Plan Revealed for Former Geelong Van Park

Marisa Wikramanayake
Sponsored

Carpet Zones Bring Clarity to Open Layouts

Partner Content
MONARK co-founders Michael Kark (CEO) and Adam Slade-Jacobson (CIO)
Exclusive

Finding the Sweet Spot: How Monark Built its $2bn Property Empire

Leon Della Bosca
The Liberman-backed financier with 250 transactions to its name shares the thinking behind where it puts its money...
LATEST
Clarke Hopkins Clarke's rendering of the clubhouse for Levande's Highton seniors living project in Geelong.
Retirement & Aged Care

Seniors Living Plan Revealed for Former Geelong Van Park

Marisa Wikramanayake
2 Min
Interiors

Carpet Zones Bring Clarity to Open Layouts

Partner Content
4 Min
MONARK co-founders Michael Kark (CEO) and Adam Slade-Jacobson (CIO)
Exclusive

Finding the Sweet Spot: How Monark Built its $2bn Property Empire

Leon Della Bosca
6 Min
Indroo Verso 53 Coonan Street DA hero
Development

Tower Pitched as Brisbane’s Inner-West Regains Steam

Phil Bartsch
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/wetherill-park-centuria-warehouse-build