Mirvac has received development approval from Cumberland Council for its most recent industrial estate at 300 Manchester Road, Auburn in Western Sydney.
ASX-listed Mirvac plans to start construction of the industrial estate in Auburn in the 2021 financial year. It is expected to create over 700 construction jobs, 1,000 permanent jobs and contribute $269 million to the local economy.
The 14-hectare site is set to become a state-of-the-art industrial estate as well as a vibrant employment precinct delivering premium facilities that blend flexible warehousing, office space and small-scale local amenities such as a local café totalling approximately 73,000 square metres of floor space.
The site is expected to attract warehouse and distribution, advanced manufacturing and innovation industries to the Auburn area, which will cater to the growing demand in online shopping and the need for more ‘last mile’ delivery locations.
“At Auburn, our vision is to deliver a precinct that represents a new age for industrial estates. Our plans include bringing leading technology together with unique amenity for future workers and the local community,” said Richard Seddon, General Manager, Industrial at Mirvac.
Seddon pointed to growing e-commerce trends driving the need for new logistics hubs with recent research from Nielsen showing a 45 per cent growth in online sales in Australia when compared to the same time last year which is likely to enhance consumer adoption of buying online.
“With more people staying at home, there has been a rapid increase in demand for e-commerce services. To meet future needs we are committed to delivering cutting-edge industrial warehouses and logistics facilities like the one planned for Auburn.”
“Against the current climate, Mirvac has adapted its operations and is progressing development plans and construction across its portfolio. Continuing momentum on our developments ensures we are well placed to help support the recovery of Australia’s economy on the other side of COVID-19.”
Located close to Auburn town centre, the site is 3.3 kilometres from Parramatta CBD and 18 kilometres from Sydney CBD. It is well placed to benefit from significant infrastructure investment including the $16.8 billion WestConnex project which will improve connections from the Inner West to the CBD, through to South Sydney and Port Botany, via a new underground M4-M5 link.
Mirvac is also investing in community infrastructure by upgrading the intersection of Chisholm and Manchester Road to accommodate traffic moving to and from the estate.
Mirvac’s redevelopment of the site is a joint venture with an investment vehicle sponsored by Morgan Stanley Real Estate Investing (MSREI).