Frasers Centrepoint adds to prime industrial site in Australia

SINGAPORE (Aug 2): Frasers Centrepoint Ltd’s Australian unit, Frasers Property Australia (formerly Australand), on Tuesday announced it is acquiring a 10ha site adjacent to its Eastern Creek Business Park in western Sydney.

The new site, which will be released to the market in 2017 with pre-lease, turnkey and land sale opportunities, complements Frasers Property Australia’s previously developed 100ha Eastern Creek Industrial Estate.

“The new site will accommodate up to 60,000 sq m of built form and enable us to service both existing and future customers in an area where we have enjoyed a leading market position for some time,” says Ian Barter, General Manager Northern Region for Frasers Property Australia.

“This decision has been validated, following the development of over S$650 million (RM1.96 billion) worth of institutional A grade industrial facilities in Eastern Creek. When the opportunity arose to purchase several hectares adjoining the existing estate, we were very keen to pursue the opportunity,” he adds.

Eastern Creek Business Park has attracted a broad mix of clients, including DB Schenker, LG Electronics, Kmart, and Fisher and Paykel, due its close proximity to the M7 and M4 major motorways and access to Western Sydney’s large skilled workforce. — theedgemarkets.com.sg