The GPT Group has reached practical completion on a 25,400 square metre logistics facility at Lot 2012 Eastern Creek Drive, Eastern Creek.
The new facility, located in Western Sydney’s premier logistics and warehouse precinct, is in close proximity to the junction of the M4 and M7 Motorways. GPT is targeting to secure a lease over the space by the end of 2017.
GPT’s Head of Office and Logistics Matthew Faddy said it was the second speculative logistics development to be delivered by the Group in Sydney this calendar year.
“The Eastern Creek Drive development is part of the Group’s ongoing focus to grow its logistics portfolio in strategic locations across Western Sydney,” said Mr Faddy.
“The completion of Lot 2012 follows our delivery of new logistics facilities at Seven Hills and Huntingwood earlier in the year which have been fully leased. This success endorses GPT’s strategy of undertaking its first speculative logistics developments for several years.”
“GPT remains confident the strong fundamentals in logistics property market across Sydney will continue for the foreseeable future and we remain on track to deliver a second logistics facility in Eastern Creek.”
The Group recently obtained development approval for the planned 32,000 square metre logistics facility at Lot 21, Old Wallgrove Road Eastern Creek where it has now completed major earthworks.
The Group meanwhile is progressing its plans to develop a 11,000 square metre logistics facility on a lot of vacant land on its 7 hectare Huntingwood site.