Logos and its joint venture partner, Ivanhoé Cambridge, have exchanged contracts to acquire a 15.3-hectare infill development site in Villawood, in Sydney’s West, for a AUD200m (€126m) development.
The vendor is Toll Group, an Australian logistics company, which is leasing back part of the facilities.
Logos plans to re-develop the remaining 11.3 hectares into a logistics and intermodal estate.
Logos’ head of Australia and New Zealand, Darren Searle, said: “The Villawood acquisition is a new strategic infill development opportunity that will greatly benefit both intermodal and logistics operators.”
Searle said the company would look to develop intermodal and logistics facilities to service demand from both existing and new tenants.
The project, he said, would capitalise on the site’s strategic location and future infrastructure development in the area.
The NSW state government was investing about AUD80bn in infrastructure across western Sydney over the next four years, Searle said.
The Villawood site is being acquired by the Logos Australia Investment Venture (LAIV), a partnership established in 2016 between Logos and Ivanhoé Cambridge to invest in prime logistics assets across Australia.
The property is LAIV’s sixth acquisition.