LOGOS has announced that it will develop a purpose built, multi-branded truck facility at its Prestons Logistics Estate in Sydney for Volvo Group Australia (VGA), a wholly owned subsidiary of the Swedish-based Volvo Group.
The pre-lease to Volvo Group Australia marks the second stage of development works at the Prestons Logistics Estate; a 25 hectare site located in the established logistics precinct of Prestons in south west Sydney. LOGOS acquired the site in mid-2016 and immediately commenced the development of two warehouse distribution facilities for Toll Transport (Toll), spanning over 65,000 square metres.
The Volvo Group Australia facility will have a total lettable area of approximately 29,300 square metres including heavy duty hardstand areas and will incorporate 40 heavy-vehicle workshop bays, sales offices, a drive through truck wash bay and truck parking. The facility will play an important role in servicing Volvo Group Australia’s customers across their Mack, UD, and Volvo truck brands in the Sydney region, with its state of the art workshop and parts warehouse. VGA has committed to an initial 10 year lease term on the facility, with construction expected to complete in the third quarter of 2018.
LOGOS Joint Managing Director, John Marsh said: “We are very pleased to be welcoming Volvo Group Australia to the Prestons Logistics Estate and developing their new truck facility in Sydney. The Estate provides VGA with excellent transport access to the M5 and M7 motorways to support their wide spanning Sydney operations”.
LOGOS Joint Managing Director, Trent Iliffe added: “The South Western corridor along the M5 and M4 motorways has proved to be an important part of Sydney’s logistics network, and the growing demand and commitment of quality of customers like Volvo and Toll are testament to this location and infrastructure.”
“We have been actively working with a number of occupiers to pre-lease the remaining developable lettable area of the Estate and are on schedule to have the Estate fully leased, developed and operational by mid-2019,” Mr Iliffe added.
Volvo Group Australia’s President and Chief Executive Officer, Peter Voorhoeve added: “The Estate is an ideal location for Volvo Group Australia to house our new, larger, multi-branded truck facility and workshop given the proximity to key arterial motorways”.
The Prestons Logistics Estate is one of a number of prime, development sites owned by LOGOS Australia Logistics Venture (LALV), a partnership established in late 2014 between LOGOS and its capital partner to acquire and develop prime, logistics estates across Australia. LOGOS’ Australian development pipeline now stands at $1.9 billion across New South, Victoria, Western Australia and Queensland.