Written by
13/11/2023
Goodman shows no signs of slowing down after receiving the go-ahead from the Sydney Central City Planning Panel for a major industrial development.
Located at 132 McCredie Road in Guildford, Goodman’s circa 72,000 square metre site will be redeveloped into 3 x new buildings with a total of 10 x tenancies, which will operate 24/7. Building 1 will front McCredie Road and will contain 4 x tenancies, while buildings 2 and 3 will contain 4 and 2 x tenancies respectively.
The tenancies are intended to provide a range of warehouse uses, including distribution and logistic centres. These tenancies will offer a total of circa 37,000 square metres of floor space, which will contribute to Sydney’s major undersupply of industrial land.
The site last traded for $41 million in June 2021, which translates to a land rate of $555/square metre.
Snapshot of the circa 72,000 square metre industrial site
Goodman’s development will provide an efficient use of an existing and underutilised industrial site, positively contributing to the economic productivity of industrial and urban service land within the Central City District. The delivery of additional employment floor space in the locality represents an opportunity for the site to better respond to the strategic needs and priorities of the district in providing significant industrial development in highly accessible locations.
Historically, the site has comprised a single-storey office building fronting McCredie, at-grade parking and hard-stand industrial storage. Up until late 2021, the site operated as a Castrol lubrication storage and distribution facility. This use has now ceased as Goodman has commenced remediation and civil works on the site.
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