Partners Group and Realterm JV Makes First Foray Into Australia With Southwest Sydney Logistics Site
A joint venture between Partners Group, a leading global private markets firm, acting on behalf of its clients, and global investment manager Realterm has made its first Australian acquisition, purchasing a prime industrial site in southwest Sydney.
The off-market purchase of the 41,490sqm site is at 77 Governor Macquarie Drive in Chipping Norton.
The sale was managed by LJ Hooker Commercial Director Ryan Jennings.
The seller was a local family who had held the property since the 1980’s.
“The family appreciated the scarcity of large freehold sites available in the corridor and decided now was the optimum time to divest,” said Mr Jennings.
The building area on the site is set over approximately 2,000sqm. The property benefits from a 100 metre frontage to Governor Macquarie Drive with convenient connections to the A22 and M5 arterials.
“Demand for well-located industrial property amongst southwest Sydney tenants remains high with the supply chain benefits of the M5 corridor, and proximity to the Moorebank and Enfield Intermodals,” Mr Jennings said. “Realterm and Partners Group’s investment is a vote of confidence in the Sydney’s southwest as a key logistics hub.”
Toni Ryan, Fund Manager, Australia at Realterm said: “Sydney’s southwest logistics submarket has experienced strong market rental growth, has near zero vacancy, and is experiencing significant supply demand imbalance, providing a strategic opportunity for Realterm to enter the Australian market”.
“We continue to see robust pipeline opportunities across Australia and are excited about expanding this venture with Partners Group.”