Charter Hall’s vision for a logistics and warehouse centre is now underway, with the Ascent Logistics Centre to light up Sydney’s sky
Australian property development and funds management company Charter Hall has announced that construction has commenced on its first multi-level warehouse, which will be known as the Ascent Logistics Centre, in Alexandria, Sydney.
The development will unlock nearly 27,000 square metres (sqm) of logistics space across two levels, including 5,000sqm of A-grade office and wellbeing amenity, adding an additional modern long WALE logistics facility to the $2.5 billion Charter Hall-managed CLP portfolio.
Ideally situated in an inner Sydney ‘last-mile’ location in proximity to the densely populated CBD and eastern suburbs, Ascent on Bourke will be the one of the first advanced multi-level warehouses in Australia.
Due for completion in 2024, Ascent on Bourke is already 80 per cent pre-leased with Schindler and Coles Group as two of its pre-committed tenants. Only 4,000sqm of warehouse space and less than 1,000sqm of office space remains.
“This development addresses existing space limitations and meets growing demand for high-quality, well-located warehouse and logistics facilities with proximity to consumers,” Charter Hall Industrial and Logistics CEO Richard Stacker says.
“As land becomes scarcer – particularly in cities like Sydney that are landlocked – and online commerce continues to grow at pace, the need for multi-level warehouse projects will accelerate. We are pleased to be leading the delivery of this solution for our tenant customers.”
With direct access to the M8, the site enables businesses to transport goods from larger facilities in the western suburbs to inner Sydney and service a population of nearly 5 million people in under 60 minutes. Sydney’s CBD, international and domestic airport and the Port of Sydney are all within a 10-minute drive.
Schindler Managing Director of Australia Paolo Beltrame says: “As our warehousing demands continue to grow and become more complex, forward-looking solutions such as this development in Alexandria will help us create a better experience for our customers as well as for our people.”
Targeting a 5-Star Green Star Design and As-Built rating from the Green Building Council of Australia, the project will include 300kV of solar installations, rainwater harvesting, deep soil landscaping and low-VOC finishes.
More than 100 new trees will also be planted across the site, which will also create green spaces for occupiers to enjoy. Ascent on Bourke will also promote green travel for workers by providing 64 bicycle parking spaces, premium end-of-trip facilities, and excellent public transport connections.