Progressing Dexus industrial developments

Strong demand for high quality logistics facilities to support the growing needs of e-commerce and other growth businesses has underpinned the activation of Dexus’s industrial developments across the east coast of Australia. In FY20, Dexus progressed the following industrial developments:

1 Foundation at Truganina,
Truganina, VIC
(Dexus 100%)
Progressed the build out of Stage 3 of the estate, with circa 70,000 square metres of development including:
– A long-term built to lease facility for AS Colour across circa 18,800 square metres, due for completion in October 2020
– A circa 7,300 square metre 5 Star Green Star certified facility for Coles completed in July 2020, with plans for a 600 kW solar photovoltaic array
– A circa 26,600 square metre facility for eStore Logistics
– A circa 8,200 square metre facility for Opal (SPG) (formerly Orora), completed in June 2020
– A circa 9,200 square metre facility for Dunlop Flooring completed in September 2019

2 Horizon 3023,
Ravenhall, VIC
(Dexus 25.5%, Dexus Australian Logistics Partner 24.5%, DWPF 50%)
– Progressed civil and infrastructure works, delivering 37 hectares of developable land
– Secured Scalzo for a purpose-built facility across circa 35,000 square metres, with construction underway and due for completion in early 2021
– Committed a high-quality customer for a purpose-built facility across circa 25,500 square metres, due for completion in mid-2021
– Commenced construction of built to lease facility across circa 36,700 square metres

3 Freeman Central,
Richlands, QLD
(Dexus 51%, Dexus Australian Logistics Partner 49%)
– Commenced construction of the first stage of a built to lease industrial estate spanning circa 54,800 square metres across five units
– The first stage will deliver three facilities across circa 32,000 square metres, with a target completion date in late 2020, committing a customer for circa 12,200 square metres

4 Loop,
South Granville, NSW
(Dexus 51%, Dexus Australian Logistics Partner 49%)
– Commenced construction across circa 57,100 square metres over four buildings, targeting completion in early 2021
– Secured a large pre-commitment lease with Winit prior to the commencement of construction of a facility across circa 20,000 square metres
– Secured further leasing across circa 6,000 square metres, resulting in a 45% commitment across the estate

5 Lakes Business Park South,
Botany, NSW
(Dexus 100%)
– Completed construction of a new facility across circa 5,000 square metres in December 2019
– Commenced refurbishment of existing facilities, with completion due late 2020
– Leased circa 10,900 square metres of space, resulting in a 75% commitment across the estate

6 Cumberland Green,
Rydalmere, NSW
(DWPF 100%)
– Completed the final stage of construction of the estate across circa 11,800 square metres in June 2020
– Leased circa 10,000 square metres of space resulting in an 86% commitment across the estate

This activity builds on Dexus’s track record which has seen it develop and lease 47 industrial development projects across 784,000 square metres in Sydney, Melbourne and Brisbane since 2010.