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Goodman to deliver 90,325 sqm of new developments at Oakdale Industrial Estate in western Sydney

Thursday, 09 June 2016

Goodman Group (Goodman or Group) is pleased to announce further development activity at Oakdale Industrial Estate (the Estate), which is comprised of the Oakdale Central and Oakdale South precincts. Goodman has secured new commitments from existing customers and will also undertake significant new infrastructure investment within the Estate.

Key points:

  • Two new pre-committed developments at Oakdale Central:
    – 36,870 sqm facility for a multinational consumer goods company
    – 8,275 sqm facility for DSV Air & Sea (DSV), a global supplier of logistics and transport solutions
  • 38,780 sqm turnkey warehouse and office development on 6.4 ha of land for Toyota Motor Corporation Australia at Oakdale South
  • Infrastructure works in excess of $50 million will be undertaken by Goodman to facilitate current and future development

Goodman General Manager, Australia, Jason Little said: "Goodman is pleased to further strengthen its joint venture partnership with Brickworks at Oakdale Industrial Estate and expand its western Sydney development pipeline through a number of new customer commitments within the Estate."

At Oakdale Central, a multinational consumer goods company has committed to a 36,870 sqm warehouse and office facility with a ten year lease term. The distribution centre will service the company's continued growth and includes a temperature controlled warehouse component. The customer is relocating from an existing Goodman estate at Erskine Park.

Also at Oakdale Central, DSV Air & Sea (DSV), a global supplier of logistics and transport solutions, has committed to an 8,275 sqm warehouse and office facility on a five year lease term, to support their business growth in the third party logistics environment. DSV is an existing customer in Goodman's South Sydney portfolio and Goodman's 12th largest customer globally. Goodman will also develop a two unit speculative 6,400 sqm warehouse and office facility with completion expected in early 2017.

On completion of these three new facilities, Oakdale Central will comprise nine buildings totalling 198,487 sqm. The estate has a further 7.8 ha of developable land remaining which is anticipated to be activated in 2016.

Jason Little said: "The 3PL, automotive and retail sectors continue to be key drivers of Goodman's business in Australia and around the world. Our development expertise combined with access to strategically located land is attractive to customers in these industries, providing the flexibility for Goodman to accommodate their future growth and changing operational requirements."

Separately at Oakdale South, Goodman will undertake a 38,780 sqm turnkey development on 6.4 hectares of land for Toyota Motor Corporation Australia (Toyota Australia), with settlement expected in late 2017. The development comprises a 36,100 sqm warehouse, 8,000 sqm mezzanine and two level office.

At Oakdale Industrial Estate, the $23 million Old Wallgrove Road upgrade currently being undertaken by Goodman as part of a Voluntary Planning Agreement with the NSW State Government, is due for completion in December 2016 and will provide four lanes of separated carriageway direct to the Estate. Simultaneously, significant investment in infrastructure planning and design for the remaining Oakdale Central and new Oakdale South precincts have commenced. Staged infrastructure works in excess of $50 million are committed and will include a continuation of the estate road from Oakdale Central, plus civil, infrastructure and biodiversity works, to prepare the Oakdale South precinct for Toyota Australia and future development.

Jason Little concluded: "The flexible masterplan and significant infrastructure investment into the Estate ensures we can meet market demand for high quality warehouse facilities and we envisage Oakdale Industrial Estate will become one of Western Sydney's premier industrial estates."

- Ends -

For further information, please contact Goodman:
Mathew Werner
Group Corporate Communications Manager
Tel: +612 9230 7159

About Goodman

Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom, North America and Brazil. Goodman Group, comprised of the stapled entities Goodman Limited and Goodman Industrial Trust, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist investment managers of industrial property and business space globally.

Goodman's global property expertise, integrated own+develop+manage customer service offering and significant investment management platform ensures it creates innovative property solutions that meet the individual requirements of its customers, while seeking to deliver sustainable long-term returns for its Partners.

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