Logos makes $640m industrial play in major capitals

Logos Australia and New Zealand chief Darren Searle.

The industrial land boom is running hot with Logos snaring a major block in the western Sydney suburb of Huntingwood for just over $200m and another property in Melbourne’s Reservoir.

The company teamed up with private equity firm KKR and Emirati state-owned Mubadala Investment Company to buy the sites, where it has plans for developments with an end value of about $640m.

The Sydney parcel was offloaded by one of China’s top building ­materials and homewares companies, China Lesso, which manufactures building materials and interior decoration products in mainland facilities. The Hong Kong-listed company bought the block from the NSW government for $68m in 2016 and had planned a distribution centre on that site.

The value of the 21.5ha vacant industrial land, which carries general industrial zoning and fronts the M4 Motorway and Great Western Highway, soared as the demand for space took off.

Logos Aus/NZ chief Darren Searle said the development would become a key area for western Sydney transport, e-commerce and logistics. “The Huntingwood site is one of the largest remaining industrial zoned land holdings in central-west Sydney capable of delivering a large-scale prime-grade logistic estate.”

The site was brought to market by Colliers’ Gavin Bishop, Sean Thomson and David Hall, alongside CBRE’s Chris O’Brien, Jason Edge and Cameron Grier.

Logos also acquired the 7.8ha site in Reservoir 13km from the Melbourne CBD. The Radford Rd site sits within a “last-mile” location of the city’s inner north, with access to the Western Ring Road, Hume Freeway and Tullamarine Freeway.

The Reservoir property was secured off-market via Brent Glassford and Marco Sandrin of Fitzroys.