Buyers attracted to affordable community living
Rhino Rack has finalised a pre-lease for 13,500 sqm over a 10 year period
SYDNEY, 22 FEBRUARY, 2018 – Frasers Property Australia (Frasers Property) has secured its first tenant in Eastern Creek Business Park, Stage 5. Rhino Rack has finalised a pre-lease for 13,500 sqm (1,500 sqm office and 150 car spaces) over a 10 year period.
Frasers Property will also deliver a 13,050 sqm speculative facility in the space adjoining Rhino Rack, which is now available for lease. Completion is expected in June 2018 with an end value of circa $50 million for the combined facility in Eastern Creek.
Frasers Property purchased the 10 hectare Western Sydney site (Stage 5) mid 2016, which is adjacent to its previously developed 100 hectare Eastern Creek Business Park in Eastern Creek.
Ian Barter, General Manager Northern Region for Frasers Property Australia comments, “This purpose-built facility will consolidate Rhino Rack’s operations under one roof from three facilities in Rydalmere. The new 5 Star Green Star warehouse will help the business further expand and offers significant operational efficiencies.
“We have developed Eastern Creek Business Park for over a decade with great success delivering A-grade institutional product and the ability to access Western Sydney’s large skilled workforce. It is situated in a prime position and has attracted several major corporates, third party logistics providers and local manufacturers.”
Eastern Creek Business Park, Stage 5 is situated approximately 40 kilometres West of the Sydney CBD and offers easy access to the M4 Western Motorway and Westlink M7.
Rhino Rack’s new facility will be located on Honeycomb Drive, Eastern Creek.
Neighbouring companies in Eastern Creek Business Park include SK Steel, Icehouse Logistics, Nover, Costas, Best & Less, Kmart, Cassons, QLS Group, Cleanaway, Clifford Hallam Healthcare, Lend Lease, Quatius, OfficeMax, DB Schenker, Kuehne & Nagel, TTI, FDM and Fisher & Paykel.
Matthew Flynn from Colliers International brokered the deal.