LOGOS plans $200m Villawood facility after Toll site purchase
Industrial property company LOGOS has unveiled a deal to buy a 15.3ha infill development site in the Sydney suburb of Villawood from Toll Group and it is planning a $200 million facility.
The deal adds to the LOGOS pipeline of $2 billion worth of industrial projects in Australia and New Zealand. Projects are under way in NSW, Victoria, Western Australia, Queensland and Auckland.
Toll will take a partial leaseback on the site but LOGOS said it would develop the remaining 11.3ha of the property.
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It will also undertake upgrading works on the Toll centre but the Villawood site is well-positioned to capitalise on the city’s expanding transport network as there are five freeway entry points as well as access to the south Sydney freight railway line.
LOGOS Australia and New Zealand head Darren Searle says the Villawood property will benefit 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 says.
The NSW government is investing about $80 billion in infrastructure in western Sydney over the next four years, including the WestConnex and NorthConnex motorways, Searle says.
“We are pleased to be working with Toll on this strategic acquisition and look forward to enhancing their facilities within this key industrial market,” he says.
The Villawood property was bought by the LOGOS Australia Investment Venture, a partnership set up in late 2016 between LOGOS and Ivanhoe Cambridge to invest in prime logistics assets across Australia.
This article originally appeared on www.theaustralian.com.au/property.
