Securing one of the final opportunities of scale within the Mamre Road Precinct, Dexus purchased 30 hectares of vacant industrial land located at 113-153 Aldington Road, Kemps Creek, in recent weeks. The off-market deal was negotiated by Colliers’ David Hall, Fab Dalfonso, Phillip Bradac and Jock Tyson.
“The significant 30-hectare property comprises three lots, delivering the opportunity for a strong development pipeline. The site will provide circa 150,000sqm of industrial space with Dexus already securing a pre-lease with McPhee Distribution Services for circa 72,000sqm” Mr Hall explains. “Given the heightened shortage of industrial zoned land stock in Western Sydney, this is a strategic purchase on behalf of Dexus.”
The Mamre Road Precinct will provide temporary relief to the growing developer and occupier demand. Colliers’ estimates that the current supply of appropriately zoned vacant industrial land in Western Sydney will run out in approximately 4.8 years. This is based on take-up levels of 200 hectares per annum, against the vacant land supply of active landowners totalling 962 hectares.
Furthermore, the site will come to market at a crucial time in the outer west market with current vacancy levels below 0.5% and over 1,200,000m² of current occupier demand (> 5,000m²).
“Kemps Creek provides an opportunity for us to grow our industrial footprint and customer base in a key market,” Chris Mackenzie, Head of Industrial Development Dexus, says. “In a competitive market, we are focused on the locations that customers will value in the future”
The Mamre Road Precinct is set to benefit from the NSW government’s commitment to $2.6 billion in funding to go towards the future development of the area and to deliver key infrastructure. This will include local roads, drainage and local open spaces.
Media contact details below and David Hall, National Director Industrial Colliers, is available for further comment.