Charter Hall begins construction of inner-city multi-level warehouse

Charter Hall Group, also referred to as Charter Hall or the Group, has officially begun the construction of its inaugural multi-level warehouse project known as Ascent Logistics Centre, or “Ascent on Bourke,” in Alexandria, Sydney.  

This development will unlock an expansive logistics space of nearly 27,000 square meters across two levels. It will feature 5,000 square meters of A-grade office space and amenities, enhancing the Charter Hall-managed CLP portfolio with a modern, high-quality long WALE (Weighted Average Lease Expiry) logistics facility. 

Strategically located in the inner Sydney area, Ascent on Bourke enjoys an enviable position as a last-mile destination, conveniently situated near the densely populated CBD and eastern suburbs. As one of Australia’s first advanced multi-level warehouses, it represents a pioneering concept in the industry. 

Scheduled for completion in 2024, Ascent on Bourke has already achieved an impressive pre-leasing rate of 80%. Notable tenants such as Schindler and Coles Group have already committed to securing space within the facility. Currently, only 4,000 square meters of warehouse space and less than 1,000 square meters of office space remain available, demonstrating the high level of interest and demand for this premier facility. 

“This development addresses existing space limitations and meets growing demand for high-quality, well-located warehouse and logistics facilities with proximity to consumers,” says Charter Hall Industrial & Logistics CEO, Richard Stacker. 

“As land becomes scarcer – particularly in cities like Sydney that are landlocked – and online commerce continues to grow at pace, the need for multi-level warehouse projects will accelerate. We are pleased to be leading the delivery of this solution for our tenant customers,” he adds.  

With direct access to the M8, the site enables businesses to transport goods from larger facilities in the western suburbs to inner Sydney and service a population of nearly 5 million people in under 60 minutes. Sydney’s CBD, international and domestic airport and the Port of Sydney are all within a 10-minute drive. 

“As our warehousing demands continue to grow and become more complex, forward-looking solutions such as this development in Alexandria will help us create a better experience for our customers as well as for our people,” says Schindler Managing Director Australia, Paolo Beltrame. 

Targeting a 5-Star Green Star Design and As-Built rating from the Green Building Council of Australia, the project will include 300kV of solar installations, rainwater harvesting, deep soil landscaping and low-VOC finishes. More than 100 new trees will also be planted across the site, which will also create green spaces for occupiers to enjoy. Ascent on Bourke will also promote green travel for workers by providing 64 bicycle parking spaces, premium end-of-trip facilities, and excellent public transport connections.