Industrial property firm LOGOS has purchased a 15.3 hectare development site from Toll Group in Villawood,Sydney.
Located at 246 Miller Road, Villawood, the industrial property offers excellent exposure to Sydney’s key transport network, with five freeway entry points within 10km and existing access to the South Sydney freight railway line.
The acquisition includes a partial leaseback to Toll over a portion of the site, with LOGOS to undertake upgrade works across their existing facilities. LOGOS plans to re-develop the remaining
11.3 hectares of the site into a logistics and intermodal estate on a speculative basis with an estimated on completion value of circa $200 million.
LOGOS’ Head of Australia and New Zealand, Darren Searle, said: “The Villawood property acquisition is a new strategic infill development opportunity that will greatly benefit both intermodal and logistics operators.
“To capitalise on the property’s strategic location and the future infrastructure development in the area, we will look to develop intermodal and logistic facilities to service the strong demand we are seeing from our existing and new tenants in this area for modern, high quality facilities,” he said.
LOGOS’ Australian and New Zealand portfolio includes assets and developments across New South Wales, Victoria, Western Australia, Queensland and Auckland, with a total development pipeline of A$2 billion.