- Brickworks’ joint venture property trust has received approval by the NSW Department of Planning, Industry and Environment to develop Oakdale West
- The Oakdale West Industrial Estate is located in Kemps Creek, western Sydney and offers 89 hectares of development opportunities
- Brickworks’ joint venture partner, Goodman Group, is an Australian commercial and industrial property group
- Coles Group is spending $950 million over the next six years on distribution hubs, like Oakdale West, across Sydney and Brisbane
Brickworks‘ joint venture property trust has received approval by the NSW Department of Planning, Industry and Environment to develop Oakdale West.
The Oakdale West Industrial Estate is located in Kemps Creek, western Sydney.
It is a newly released precinct offering 89 hectares of development opportunities.
The approval secures the 89-hectare development, including 116,000 square metres for Precinct 1 building works, Stage 1 infrastructure works and lead-in services.
The Western North-South Link Road, which will provide direct access from the Estate to Lenore Drive and the nearby M7 and M4 motorways, has also been approved, with construction to commence shortly.
A huge range of development opportunities are available for brand new, purpose-built warehouse facilities from 4000 square metres.
“We are pleased to secure development approval for our next Oakdale Estate, a joint venture between Goodman and Brickworks, which provides the property trust with a pipeline of land ready to deliver world class industrial facilities for a wide range of customers,” Brickworks Managing Director Lindsay Partridge said.
In the last 10 years, the property trust has expanded significantly. It now has over $1.7 billion in assets across western Sydney and Brisbane.
“The trust also provides Brickworks with a secure source of income and cash flow through rental income, and this will continue to grow as developments are completed,” Lindsay added.
Oakdale West is part of the overall Oakdale Industrial Estate which spans Sydney’s Eastern Creek, Kemps Creek and Horsley Park suburbs.
Brickworks’ joint venture partner, Goodman Group, is an Australian commercial and industrial property group which owns and develops warehouses, large scale logistics facilities, and business and office parks.
It was announced in January this year that supermarket giant Coles Group is spending $950 million over the next six years on distribution hubs, like Oakdale West, across Sydney and Brisbane.
These new, “state-of-the-art” warehouses are are step up from previous ones, boasting higher efficiency.
“Compared to a manual warehouse, these new automated warehouses will be able to handle twice the volume of goods on half the footprint. It’s game changing,” Coles Chief Supply Chain Officer Matt Swindells said.
Coles has committed to a 20-year lease of the western Sydney, 34-metre high facility.
“Brickworks is pleased to further strengthen the JV Trust by securing this significant pre-commitment with Coles. On completion, the facility will be the highest value asset owned by the JV Trust,” Lindsay concluded.