International property developer and investor Cabot Properties has completed the purchase of a new logistics property for A$137.6 million.
The 19,819 square-metre property in Sydney’s south is the firms first acquisition in Sydney and aligns with Cabot’s desire to invest in infill industrial real estate in top global logistics markets.
The site, located at 42-52 Raymond Avenue is a Class A, two-storey, ramp-up logistics facility consisting of four units ranging in size from 4640 to 5109 square metres. One of the units is currently leased to an established local roofing material supplier.
The development is registered for a 4 Star Green Star Buildings certification and features a 300kW solar PV system, energy monitoring systems, a rainwater recycling system and an EV charging station.
Managing Director of Investments, Asia Pacific for Cabot Properties Sally Box says the multi-storey functionality of the property is still an emerging trend in Australian markets.
“We are excited to expand Cabot’s presence in Australia,” Box says.
“As an established product type across Asia but an emerging one in the Australian landscape, multi-storey warehouses are attractive for many reasons.
“Among the most important is the increased density, which maximises land use to both enhance sustainability and increase storage capacity, ultimately supporting greater distribution capabilities.”
The property is located in one of the most land-constrained industrial submarkets in Sydney and offers access to major transport arteries of the Eastern Distributor, Southern Cross Drive, M5 Motorway and the new WestConnex M8 Motorway.
It is also located close to international transport gateways Sydney Airport and Port Botany.
The development was delivered by LaSalle Investment Management with Hale Capital and Vaughn Constructions. The transaction was handled by Colliers International via an expressions of interest campaign.
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