Lakes Business Park is a 43,000 square metre business park located in close proximity to Sydney Airport and eight kilometres from the Sydney CBD in a core industrial market for Dexus which satisfies a dual strategy of trading and leasing.
The property comprises two adjoining sites – the Northern site and the Southern site and is adjacent to Sir Joseph Banks Corporate Park which is owned by DWPF.
- Dexus acquired Lakes Business Park in January 2015
- Identified the potential for superior rental growth in the medium term due to constrained supply and competing land use interests in the South Sydney market
- active leasing strategy to drive rental growth and increase WALE of Northern site
- medium-term potential for residential re-zoning of Southern site – acquired as part of inventory for future trading opportunity and held in trading trust
- Accessed quality industrial product close to Sydney Airport and the CBD that will benefit from increased demand from displaced tenants in the inner South Sydney region
- Discussions have commenced with local planning authorities regarding the rezoning of the Southern site