Sydney’s Industrial land opportunities predominantly have been in the western M7 corridor in locations such as Eastern Creek, Huntingwood, Marsden Park and Prestons. Rental levels in these locations are very similar, varying only by approx $5/m2 along the corridor and land has followed the same way. Marsden Park, Huntingwood and Eastern Creek/Erskine Park have reported land transactions that have occurred from $450-$550 /m2 of land area, which is the result of very strong buyer demand.
The listing of approx. 235ha of zoned Industrial land at Riverstone formerly Riverstone Meat Works will test the market with the major developers and A-REITs expected to pursue due to the lack of other opportunities in Sydney. Riverstone is now on the map due to the M2/M7 access via the very buoyant Marsden Park.
Land is in short supply and buyers have to take a long term view when acquiring at the current rates for development purposes, however most of the larger player are looking to develop and hold long term.