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Steinhoff International Holdings has almost doubled the size of its warehouse facilities in Frasers Property Australia’s flagship 6 Star Green Star Horsley Drive Business Park.
Wetherill Park – Sydney – 10 October 2017 – One of Australia’s largest furniture retailers, Steinhoff International Holdings (Steinhoff) has almost doubled the size of its warehouse facilities in Frasers Property Australia’s flagship 6 Star Green Star Horsley Drive Business Park, Wetherill Park.
The company has secured a further 8,900 sqm over a seven-year period, which takes its total new purpose built warehouse and office space to 18,869sqm with an end value of $34 million for the total asset.
Royal Comfort Bedding and Select-O-Pedic, owned by Steinhoff, will utilise the new warehouse space. Steinhoff is a major listed retail giant with over 35 years’ experience, 275 retail stores across Australia and eight prominent retail brands, some including Freedom Furniture, Fantastic Furniture, Snooze and Plush.
Ian Barter, General Manager Commercial & Industrial Northern Region for Frasers Property Australia comments, “Horsley Drive Business Park has become very popular with furniture retailers. We have now secured four in the park including Nick Scali, Vivin Imports, Royal Comfort Bedding and Select-O-Pedic. The rapidly expanding property sector has helped drive demand for additional warehouse space from the domestic trade-related products sector. This demand is set to continue.
“Horsley Drive Business Park provided the perfect strategic location for Steinhoff to consolidate its expanding operations. It made smart business sense to co-locate two of its distribution operations to one central location.”
He added, “The park’s access to the M7 and other major motorways has made it an important warehouse hub for many tenants in the park that work across Sydney and interstate.”
Horsley Drive Business Park’s 6 Star Green Star credentials are attracting companies that are keen to derive benefit from environmental initiatives that offer significant operational efficiencies. Martin Brower, Survitec Group, Nick Scali, and Phoenix Transport are already located in the business park.
The 20.4 hectare site is owned by the Western Sydney Parklands Trust (WSPT) and is located on the corner of Cowpasture Road and Horsley Drive, Wetherill Park. Frasers Property Australia entered into a development agreement and long-term ground lease with WSPT to deliver a high-quality industrial estate with a mix of facility types.