GPT secures tenant for speculative logistics build in Sydney's Huntingwood

It is the fourth speculative development GPT has leased up since last year – a fifth is due to be complete by the end of this year – as it decided to seize its opportunities in Sydney’s buoyant industrial market.

The logistics company took possession of the Huntingwood Drive facility immediately after it reached practical completion in late August.

The development is on the 1 Huntingwood Drive site GPT took over in late 2016.

The Huntingwood site has direct exposure to the Great Western Highway and is also close to the M4 and M7 interchange.

“Our ability to lease the new Huntingwood facility is another endorsement of GPT’s strategy to accelerate the delivery of its logistics development pipeline through speculative development,” said its head of development for logistics, Darren Hunt.

“Demand for logistics space remains very strong in Sydney and we expect vacancy to remain tight for the foreseeable future.”

Mr Hunt said GPT’s next speculative logistics development, The Gateway at Eastern Creek, was receiving strong levels of enquiry.

The Gateway is a 30,000 square metre logistics development on Old Wallgrove Road, Eastern Creek, near the interchange of the M7 and M4 motorways.

As part of its run of speculative builds, GPT reached practical completion on a facility in Seven Hills earlier this year.

That 18,000 square metre logistics facility on Abbott Road in Seven Hills will be worth more than $30 million when fully complete. It is comprised of two 9000 square metre warehouse and office space.

GPT acquired three parcels of land in Sydney’s west – at Eastern Creek, Erskine Park and Huntingwood – last year as it stepped up in industrial exposure in the region.