Swire Cold Storage has entered into a contract to purchase a 70,170m² site at the 256-hectare Sydney Business Park in Sydney’s North West. The company plans to open a 32,000m² temperature controlled warehouse and distribution centre at the site located on Richmond Road off the M7.
To operate as part of their network of temperature-controlled facilities across Australia, the new site will be developed in two stages, with the first stage completed by 2017. Swire Cold Storage refrigerated warehousing is supported by a modern fleet of refrigerated vehicles and trailers operating under the Frigmobile brand.
Sydney Business Park is a world-class campus-style master planned mixed use precinct, which will create over 17,000 new direct jobs within the Marsden Park area.
According to Sydney Business Park’s Development Director, Owen Walsh, Swire Cold Storage was the eighth blue chip business to secure a site at the precinct, joining major names such as IKEA, Costco Wholesale, Bunnings Warehouse, Masters Home Improvement, Hargreaves Property Group, Shell and McDonalds.
Sydney Business Park’s Sales & Leasing Director, Matt Foldes negotiated the deal with Paul McGlynn of Colliers. Mr Foldes observes that the sale to Swire Cold Storage is a significant milestone for the industrial precinct within the project. The first stage subdivision works are now open, the second stage has been sold out and is under construction, and the third stage is attracting enquiries from purchasers and tenants.
Swire Cold Storage plans to lodge their development application for the site in the next few months, with construction of the facility expected to commence in 2015.
Swire Cold Storage Managing Director Shane Moloughney said their investment in the site at the Sydney Business Park facility will allow the company to build a high quality cold storage facility that will meet their customers’ current and future needs, and strengthen their position in the New South Wales cold storage market.
Expected to have an end value of approximately $2 billion, Sydney Business Park will appeal to a wide variety of businesses due to the flexibility of floor space and wide range of uses. These factors will also encourage diverse industries to co-locate their head office, manufacturing, warehousing and retailing under the same roof in Sydney.
Sydney Business Park will also include rainwater harvesting, recycled water, water-sensitive urban design, alternate energy sources, waste management and minimisation features.