LOGOS bolsters its East Coast pipeline with $640m acquisition

Logistics platform LOGOS is bolstering its East Coast pipeline with plans to develop two prime multi-unit logistics estates after a $640 million acquisition of two significant land parcels in New South Wales and Victoria.

LOGOS completed the acquisition with partners Kohlberg Kravis Roberts and Mubadala Investment Company.

Located within established industrial precincts in Sydney and Melbourne, the two properties are in close proximity to local key infrastructure, government investment, and growing customer demand.

The 21.5ha greenfield site at Augusta Street, Huntingwood is strategically located in Sydney’s central west, offering excellent access to existing amenity and major road infrastructure, including the adjacent M4 Motorway and Great Western Highway.

“The Huntingwood site is one of the largest remaining industrial zoned land holdings in central-west Sydney capable of delivering a large-scale prime-grade logistic estate,” said Darren Searle, Head of Australia and New Zealand at LOGOS.

“With strong connectivity to key transport infrastructure, the Estate will be able to support the increasing demand from e-commerce, transport and logistics customers looking to service Western Sydney’s growing residential population,” Searle said.

The 7.8ha site at Radford Road, Reservoir resides in a central ‘last mile’ location in Melbourne’s inner north being 13kms north of the Melbourne CBD and with access to the Western Ring Road, Hume Freeway and Tullamarine Freeway.

“At the Reservoir site we will be delivering a prime-grade Estate which will benefit from its infill location, flight to quality from local occupiers and speed to income through a timely and efficient development programme,” said Myron Poobalasingam, General Manager Development Victoria at LOGOS.

The acquisitions follow the venture’s initial seed asset in April 2021, being an 18.2ha prime development site in Wacol, Brisbane, which is under construction with a significant tenant pre-commitment.

The transactions reflect the venture’s investment strategy to acquire and develop modern, high-quality logistics facilities across Australia’s core markets, and increases the portfolio end value to $900 million.

The Huntingwood property was brokered on-market via Gavin Bishop, Sean Thompson and David Hall of Colliers International and Chris O’Brien, Jason Edge and Cameron Grier of CBRE and the Reservoir property off-market via Brent Glassford and Marco Sandrin of Fitzroy’s.

Source: LOGOS