FRASERS Property Australia (formerly Australand) has exchanged contracts with Australia-based Hanson Concrete to acquire a 10-ha site adjacent to its Eastern Creek Business Park in western Sydney.
The site at Kangaroo Avenue Eastern Creek, which will accommodate up to 60,000 sqm of built form, complements Frasers Property Australia's previously developed 100-ha Eastern Creek Industrial Estate, said the Australian division of Frasers Centrepoint Ltd.
The new land parcel will be released to the market next year with pre-lease, turnkey and land sale opportunities.
"We identified Eastern Creek over a decade ago as a prime location for logistics and warehousing operations due to its proximity to the major road networks in Sydney," said Ian Barter, general manager, northern region, for Frasers Property Australia. "This decision has been validated following the development of over A$650 million (S$657 million) worth of institutional A-grade industrial facilities in Eastern Creek. When the opportunity arose to purchase several hectares adjoining the existing estate, we were very keen to pursue the opportunity."