Almost half of all industrial leases signed over the last year have been for transport and logistics operations.
The logistics sector is demanding more and more industrial-zoned property in the greater Sydney metropolitan area, a real estate research group has found.
Savills Australia’s latest research report into the Sydney industrial property market shows that 49 per cent of all industrial leases signed over the 12 months to September 2014 were for transport and logistics functions.
They included the 4,613 square-metre property leased by Australian Port Logistics and the 3,134sqm facility leased by BAM Wine Logistics.
Online book seller Booktopia also leased an 8,670sqm distribution centre in Lidcombe in March this year.
The wholesale sector (including participants in the supermarkets, bulky goods, and agricultural markets) accounted for 36 per cent of new leases over the 12 month research period, with the remainder of the lessees identifying with the manufacturing and IT and telecommunications sectors.
Savills’ research shows similar stories happening in the Melbourne and Brisbane industrial real estate markets.
Transport and logistics operations accounted for 45 per cent and 33 per cent of all industrial leases in each city respectively.