Market wrap: sales and leasing activity in and around Sydney
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LIDCOMBE
Southern Cross Produce Export (Sydney) Pty Ltd has inked a lease for a 3153 sq m industrial site at 12-14 Birnie Avenue from a private investor. The property is fitted out as cold storage facility and has a large hardstand area proving great container access and office accommodation with full staffing amenities. The three-year lease was signed at a rent of $82 per sq m. JLL’s
Marco Chiodo,
BOTANY
The Sydney Art Store Pty Ltd has leased a 250 sq m industrial at 10 Tenterden Road from MGJ Pty Ltd. The lease term is three years at a rent of $240 per sq m gross.
Woolworths lodges plans for new state-of-the-art facility in western Sydney
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A surge in online and convenience shopping has underpinned the industrial property sector and companies are looking to expand their presence with investment in new assets.
Deals in the Australian industrial and logistics sector surged 11.5 per cent in 2020, with almost $5.5 billion of assets (worth more than $10 million) exchanging hands last year.
Renders of the proposed Woolworths fresh food distribution centre in Wetherill Park.
Gavin Bishop, head of industrial capital markets at Colliers International, said the strong level of investment came on the back of robust fundamentals within the sector, including e-commerce growth, food logistics and infrastructure investment.
Laundy says quick thinking saved pandemic-hit pubs
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Former federal member for Reid and pub owner-operator Craig Laundy has praised the quick efforts of the industry bodies and all governments in enacting policies and guidelines to keep the pandemic-hit sector afloat.
Laundy, who runs the multi-million dollar family pub empire with his father Arthur, says any time an industry loses 10-11 weeks of business, its not good, Laundy told
The Sydney Morning Herald and The Age.
Laundy is a former Liberal Party politician who served as the member for Reid from 2013 until his retirement in 2019, when he went back to help run and expand the family pub business.
Blackstoneâs Tynan sets the group on a growth path
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Once a week Blackstoneâs local head of real estate Chris Tynan wakes up in the middle of the night, drives to the office, and gets on a video conference call to talk deals.
Itâs usually 2am in Sydney but Monday morning in the US when Tynan and his team meet on Level 39 at Circular Quayâs Gateway building overlooking Sydney Harbour. Theyâre there to pitch their plans to Blackstoneâs top brass including billionaire chief executive Stephen A. Schwarzman and president and chief operating officer Jon Gray.
Charter Hall CEO s eye for deals propels property giant to $45b value
Charter Hall CEO s eye for deals propels property giant to $45b value
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As COVID-19 laid waste to Australia s borders and investor fear halved the value of the Australian sharemarket s A-REIT index earlier this year, property powerhouse Charter Hall went on a buying spree.
Ploughing on through the national lockdown and pandemic uncertainty, it leapt on a portfolio of supermarket Aldi logistics warehouses, paying $648 million for its efforts. That was quickly followed by a dozen more deals and, by the end of the year, Charter Hall had outlayed a whopping $3.5 billion on real estate during one of the most tumultuous business years in living memory.