Charter Hall's Core Logistics Partnership acquires prime Western Sydney industrial site
Share this page
LINKEDIN
FACEBOOK
TWITTER
EMAIL
2 mins
Share
By proceeding you confirm that you are a resident of Australia or New Zealand accessing this website from within Australia or New Zealand and you represent, warrant and agree that:
- you are not in the United States or a “U.S. person”, as defined in Regulation S under the U.S. Securities Act of 1933, as amended (“U.S. Person”), nor are you acting for the account or benefit of a U.S. Person;
- you will not make a copy of the documents on this website available to, or distribute a copy of such documents to, or for the account or benefit of, any U.S. Person or any person in any other place in which, or to any other person to whom, it would be unlawful to do so; and
- the state, territory or province and postcode provided by you below for your primary residence in Australia or New Zealand are true and accurate.
Unfortunately, legal restrictions prevent us from allowing you access to this website. If you have any questions, please contact us by e-mail by clicking on the link below.
The Charter Hall managed Core Logistics Partnership (CLP) has announced the acquisition of 56-62 Glendenning Road, Glendenning, NSW for $26 million.
The strategically located 3.9 ha site in the tightly held Glendenning industrial and logistics precinct provides an opportunity to re-develop the site into a $60 million multi-unit industrial estate, with a Gross Lettable Area of 21,000 sqm.
The Glendenning industrial precinct provides a viable alternative to Eastern Creek for small to medium size warehouse and distribution users following construction of the M7 Motorway along its western side. The site is located just 1km from the M7 Motorway via a B-double approved route, providing convenient access to Sydney’s wider arterial road network. Future tenant customers will also benefit from the site’s prominent exposure to three street frontages.
Fund Manager of CLP, Mr Simon Greig, said “This transaction follows the strong leasing success recently achieved at CLP’s Woodpark Industrial Estate at 400 Woodpark Road, Smithfield, with the $70 million estate now 100% pre-leased prior to completion in mid 2020. Both developments are aligned with CLP’s strategy to replenish its development landbank and grow its NSW portfolio to capitalise on forecast rental growth.”
The acquisition enables CLP to continue to deliver high quality, generic, industrial and logistics developments and contribute to the growth of Charter Hall’s national Industrial and Logistics portfolio to $7.6 billion of funds under management.
The transaction was brokered by Marcel Elias of LJ Hooker Silverwater in an off-market transaction. Mr Elias said “The site has been privately owned by the same family for almost 3 decades, and we expect the re-development to generate strong pre-lease interest within the market.”
Charter Hall Core Logistics Partnership now comprises 35 industrial and logistics properties valued at $1.9 billion, with a WALE of 10.2 years, and benefits from 99% occupancy.
Related News
Western Sydney International Airport partners with Charter Hall to deliver new Business Precinct
Read more
Charter Hall and Healthy Heads in Trucks & Sheds extend partnership to launch nutrition pilot program for warehouse workers
Read more
Charter Hall has commenced main works construction at its $1.8 billion Chifley South development
Read moreTalk to us
Thanks for your interest in Charter Hall. Fill in your details below and we’ll get back to you as soon as possible.
I am interested in
Enquiry
*Indicates that this field is required.
All personal information submitted will be treated in accordance with our privacy policy.
By registering and/or submitting personal data to Charter Hall, you agree that, where it is permitted by law and in accordance with our Privacy Statement or where you have agreed to receive communications from us, Charter Hall may use this information to notify you of our products and services and seek your feedback on our products and services. Please note you can manually opt out of any communications.
Talk to us
Thanks for your interest in Charter Hall. Fill in your details below and we’ll get back to you as soon as possible.
I am interested in
Enquiry
*Indicates that this field is required.
All personal information submitted will be treated in accordance with our privacy policy.
By registering and/or submitting personal data to Charter Hall, you agree that, where it is permitted by law and in accordance with our Privacy Statement or where you have agreed to receive communications from us, Charter Hall may use this information to notify you of our products and services and seek your feedback on our products and services. Please note you can manually opt out of any communications.
-
© Charter Hall Group, 2024.
- Terms of Use
- Privacy Policy
- Complaints Guide
- Feedback
