29 October 2020
Frasers, Altis to develop $1b western Sydney estate
Altis Property Partners and Frasers has acquired a 118 hectare site in western Sydney with plans to develop a logistics estate with an end value of more than $1 billion. The site, which occupies 649-763 Mamre Road in Kemps Creek, south-east of Penrith, lies within the rezoned Mamre Road Precinct which is set to become an 850 hectare warehousing industrial hub as part of the Western Sydney Employment Area. The Frasers-Altis industrial project is an amalgamation of a number of separate land parcels acquired from private owners, some as far back as 2017.
For Altis, the deal with Frasers will give it a third project in Kemps Creek and builds on Altis’ recent developments in western Sydney including the First Estate Kemps Creek and the Altitude Estate at Bankstown Airport.
“This acquisition will build on the recent success of our neighbouring First Estate development [in Kemps Creek],” said Altis executive director Shaun Hannah.
“We see enormous potential in western Sydney.”
See the full article here as seen in The Australian Financial Review.
Together with Frasers, Altis Property Parters, look forward to developing this warehousing industrial hub as part of the Western Sydney Employment Area.
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