Dexus turns first sod on industrial estate in Northwest Sydney

Contact

Sep 19, 2024

Dexus turns first sod on industrial estate in Northwest Sydney

Australasian real asset manager Dexus has turned the first sod on a premium eight-unit industrial estate that will provide more than 47,000 square metres of gross lettable area in Marsden Park in Sydney’s Northwest Priority Growth Area.

Dexus

Dexus turns first sod on industrial estate in Northwest Sydney
Dexus

Dexus turns first sod on industrial estate in Northwest Sydney
Dexus

311 South Street, Marsden Park (Vertex)
Dexus

311 South Street, Marsden Park (Vertex)
Dexus

311 South Street, Marsden Park (Vertex)

Dexus will deliver the build-to-lease estate called Vertex at 311 South Street on behalf Dexus Australian Logistics Trust. The target completion date is mid 2025.

Vertex at 311 South Street aims to meet the demand for flexible industrial rental units with strong sustainability features, which are not currently available in the rapidly growing area.

Each warehouse will have a future proof design, with adjustable inter-tenancy walls, units of differing sizes and the ability to combine tenancies. They will also have commercial-grade storage batteries linked to 800kW rooftop solar panels, centralised recycled water pumps and tanks, LED lighting, natural ventilation and use recycled sustainable construction materials.

Chris Mackenzie, Executive General Manager, Industrial at Dexus said Vertex at 311 South Street was in line with Dexus’s strategy to deploy capital into sectors with strong growth drivers, including industrial.

“This development will meet the strong demand for high quality industrial tenancy units in the rapidly growing catchment area in Northwest Sydney.

“Along with meeting demand for flexibility, the designs do the heavy lifting of embedding sustainability features, helping our customers to meet their energy efficiency and carbon emissions targets. Our customers tell us this is a winning formula.”

Dexus is currently constructing two other industrial projects in Western Sydney. The last mile Velociti estate at Moorebank is due for completion in Q4 2024 and will feature circa 17,900 sqm of gross lettable area across six warehouses. The 149 Orchard Road, Chester Hill industrial estate will deliver four contemporary warehouses with adjoining mezzanine offices, across a total of 24,100 sqm of gross lettable area.

Dexus is one of the largest industrial developers and managers in Australia, managing a premium $11 billion industrial portfolio, including industrial estates across Perth (Ascend at Jandakot, 186-hectare estate), Melbourne (Horizon 3023, 127-hectare estate), Brisbane (Hemmant, 13-hectare estate) and Sydney (Quarryeast and Quarrywest at Greystanes, 69-hectare estate).