Garmin navigates to new Sydney Business Park home
Garmin has doubled its Australian presence by securing a $45m facility in Sydney’s west.
US navigation giant Garmin has cemented its growth plans in Australia, securing a new facility in Sydney’s west on a 10-year lease.
Garmin will develop a distribution centre at Sydney Business Park in Marsden Park, with plans for the 12,036sq m warehouse space and 1320sq m office space to be partly operational from next month.
The new space is a big jump from its current Australian asset in Sydney’s Eastern Creek, a 6000sq m facility about 13.5km south.
Sydney Business Park is home to several multinational and local franchises including Linfox, Dulux, Ikea, Bunnings and ASICS. The site houses cafes, gyms, childcare centres and a medical centre.
Garmin Australian managing director Matthew Thomas said the company had seen an increasing demand throughout the past two years of the pandemic.
“We’ve been on a very steep growth trajectory since the pandemic prompted a technology-driven fitness revolution and people around the world found creative and safe ways to keep moving,” Mr Thomas said.
The move to Marsden Park was brokered by TMX and Sydney Business Park leasing director Matt Foldes. “Having Garmin as the next blue chip tenant to relocate to the estate is a fantastic outcome and has already assisted with generating interest from other quality tenants who are keen to make the move to Marsden Park,” Mr Foldes said.
Garmin’s watches utilise GPS navigation.
Garmin, which was founded in Kansas in 1989, has 19,000 employees across 34 countries. About 101 staff will work in the new Sydney facility, making up the majority of its 142 Australian staff.
Shares in Garmin, like those of many listed US tech companies, peaked during the second year of the pandemic, reaching an all-time high of $US178.81 before plummeting to a low of $US93.56 in July.
The company reported total revenue of $4.98bn over the past year, with an increasing demand for its wearable navigation products.
