Garmin doubles its Australian operations in Sydney Business Park
If you have ever browsed the internet for a watch to track your exercise or sleep habits, chances are you’ve stumbled across global technology company Garmin.
Following a fitness-related boom in business during lockdowns, the company is leveraging its success and expanding its footprint in Australia, signing a 10-year lease for a new purpose-built facility in Sydney’s Marsden Park.
A leading provider of GPS-enabled products and smart devices, Garmin’s products are split into five markets: fitness, outdoor, marine, aviation and automotive. Products range from navigation and radio devices, chart plotters, live sonars and flight decks to premium smartwatches retailing for up to $1400.
Garmin reported $4.98 billion in total revenue in 2021, off the back of heightened demand for lifestyle and fitness products during the pandemic. However, revenue has slid this year, with the company putting that down to a normalising market, a high US dollar, high inflation and rising interest rates.
But it hasn’t put the brakes on their Australian plans to grow. More than double the size of their current hub in Eastern Creek, the new facility at Sydney Business Park includes 12,040 square metres of warehouse space and 1320 square metres of corporate office space.
The $45 million facility will be partially opened next month and fully operational in early 2023. It will serve as Garmin’s online fulfilment centre as well as a base from which to service its bricks-and-mortar retail partners.
“We’ve been on a very steep growth trajectory since the pandemic prompted a technology-driven fitness revolution and people around the world found creative and safe ways to keep moving,” said Matthew Thomas, the managing director of Garmin Australasia.
Thomas said location and proximity to amenities were key factors in its decision to sign up to Sydney Business Park, which is roughly 35 minutes north-west of the CBD and close to the M7 motorway. Garmin joins the likes of Linfox, Dulux, IKEA, Bunnings and ASICS in the park.
“Sustainability was an important consideration also and, to that end, significant solar capability and energy saving initiatives have been incorporated into the design,” Thomas added.
Sydney Business Park is hopeful that the latest announcement will entice other global brands to the growing precinct, a 256-hectare master-planned site encompassing commercial, industrial and retail precincts. Around 50 per cent of the Sydney Business Park has been developed.
“Having Garmin as the next blue-chip tenant to relocate to the estate is a fantastic outcome and has already assisted with generating interest from other quality tenants who are keen to make the move to Marsden Park,” said Matt Foldes, the company’s sale and leasing director.
The lease was negotiated by business consultancy firm TMX, which will go on to project-manage the delivery of the development.
“As the fitness craze continues, Garmin is well-placed to meet growing consumer demand and improve speed to market by fulfilling both e-commerce and in-store orders from this world-class distribution centre in Marsden Park,” said TMX Property director Nick Greenwell.
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