A joint venture between Frasers Property Industrial, Aware Super and Altis Property Partners has started construction of The YARDS, the major industrial and logistics community at Kemps Creek in Western Sydney.
The new precinct, which has an end value of A$1 billion, is located on the corner of Mamre Road and the future Southern Link Road in the Western Sydney Aerotropolis.
”This premium development is Australia’s first industrial community. It is also one of Sydney’s largest industrial developments, spanning 70 hectares.” said in a joint statement.
“The YARDS will be a critical piece of new infrastructure for Western Sydney. Showcasing a premium industrial estate design, it will play a vital role in fulfilling both the growing demand for warehousing and logistics space in the region and consumer demand, which we’ve seen accelerate further since the start of the global COVID-19 pandemic,” said Reini Otter, Frasers Property Industrial CEO.
“We’re proud to be partnering with Aware Super to create the first Australian industrial community where sustainability, wellbeing and technology are at the heart of the precinct, while also contributing to the region’s economic growth and job creation during a crucial time,” he added.
The YARDS will accommodate approximately 400,000 square metres of next-generation sustainable warehouse and logistics facilities, with a focus on creating a vibrant and healthy work environment for customers and their employees.
The YARDS is expected to generate over 3,500 jobs during construction and after completion. Practical completion of Stage 1 of The YARDS is scheduled for early 2022.
”The YARDS will change the face of this important growth region in Western Sydney, will provide critical infrastructure to support Sydney’s second airport, and provide jobs and opportunities for decades to come,” said Damian Graham, Aware Super Chief Investment Officer.