New industrial property completions across the Sydney metro area for 2022 was approximately 580,000 square metres across 29 projects (> 5,000 square metres in size) a volume just above the long run average. Delays due to weather, material and labour disruptions notably reduced the volume of completions a year earlier. The Outer West accounted for most completions last year, followed by the Central West. Most developments were underpinned by precommitment, however, a proportion commenced on a speculative basis but have since been leased. Supply 6 Amongst the largest recent completions included • A 66,000 square metres building for Coles at the Oakdale Industrial Estate – West in Eastern Creek; • The 43,600 square metres Warehouse 4 development on Astoria St at Sydney Business Park in Marsden Park, committed to by TJX; and • A 41,832 square metres warehouse at 149 McCredie St in Smithfield. 2/14 Enterprise Close, West Gosford NSW 2250 Industrial Market Monitor | 1st Half 2023
RkJQdWJsaXNoZXIy MTI3ODI1