LOGOS Acquires 15.3ha Villawood site from Toll Group
Tuesday 19th February 2019
LOGOS is pleased to announce it has exchanged contracts to acquire a 15.3 hectare infill development site in Villawood, Sydney from Toll Group including a partial sale and leaseback agreement. The acquisition is due to settle in late 2019.
Located at 246 Miller Road, Villawood, the property offers excellent exposure to Sydney’s key transport network, with five freeway entry points within 10km and existing access to the South Sydney freight railway line.
The acquisition includes a partial leaseback to Toll over a portion of the site, with LOGOS to undertake upgrade works across their existing facilities. LOGOS plans to re-develop the remaining
11.3 hectares of the site into a logistics and intermodal estate on a speculative basis with an estimated on completion value of circa $200 million.
LOGOS’ Head of Australia and New Zealand, Darren Searle, said: “The Villawood property acquisition is a new strategic infill development opportunity that will greatly benefit both intermodal and logistics operators.
“To capitalise on the property’s strategic location and the future infrastructure development in the area, we will look to develop intermodal and logistic facilities to service the strong demand we are seeing from our existing and new tenants in this area for modern, high quality facilities,” he said.
The NSW Government is investing circa $80 billion in infrastructure across western Sydney over the next four years, including the construction of the WestConnex and NorthConnex Motorways and upgrades to the area’s existing road systems under the $3.6 billion Western Sydney Infrastructure Plan.
The acquisition also strengthens LOGOS’ relationship with Toll, with the Group having developed three facilities for the global logistics provider.
Mr Searle added: “We are pleased to be working with Toll on this strategic acquisition and look forward to enhancing their existing facilities for them within this this key industrial market”.
The Villawood property has been acquired by the LOGOS Australia Investment Venture (LAIV), a partnership established in late 2016 between LOGOS and Ivanhoé Cambridge to invest in prime, logistics assets across Australia. The property is LAIV’s sixth acquisition.
LOGOS’ Australian and New Zealand portfolio includes assets and developments across New South Wales, Victoria, Western Australia, Queensland and Auckland, with a total development pipeline of A$2 billion.
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