Logistics News

GPT to press ahead with Eastern Creek facility

Property group sees speculative logistics plays come up trumps

 

Western Sydney has become a happy hunting ground for GPT Group’s (GPT) logistics facility investments.

The property group gave the region the thumbs up after it proved its worth multiple times.

It will now begin construction of a 31,000 square metre logistics and office facility at Lot 21 Old Wallgrove Road, Eastern Creek in Sydney.

This is located in the heart of logistics and warehouse precinct The Gateway with a view to being leased in its entirety or as two separate facilities.

GPT’s head of development, logistics Darren Hunt says he is confident the development, near the interchange of the M7 and M4 Motorways, would attract a significant level of interest.

“GPT is very encouraged by the success of the three speculative logistics developments in Western Sydney that it completed last year and has now fully leased,” Hunt says. 

“Our strategy of undertaking speculative developments has allowed GPT to capitalise on the current strong demand for quality and well-located logistics facilities which in Sydney remain at historic highs.”

The Gateway is GPT’s second speculative logistics development this year, with work now well underway on the Group’s 11,260 sq m facility at 1B Huntingwood Drive in Huntingwood, Sydney.

It occupies the same site as the 21,000 square metre 1 Huntingwood Drive facility that was refurbished and fully leased by GPT last year.

 

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