MFS & Augusta drives into M5

SYDNEY developer Augusta Properties has partnered with MFS Diversified Group to develop a large industrial estate along the M5 motorway.

August bought the property from a private owner through Paul Byrne of LJ Hooker Bankstown and Colliers International for $10.1 million.

Augusta and the MFS Diversified Group will develop the site together in a $28 million dollar deal.

The 15,800 sqm business park will be known as MFS Diversified Group Bankstown M5 Business Park.

Augusta’s director Wayne Smith the property is within close proximity to the M5 motorway and with much of the current development focus on creating mega-warehouses for large scale users, there are very few options for the tenant requiring medium sized industrial space of 700 to 5,000 sqm.

“On completion in early 2008, Bankstown M5 Business Park will perfectly satisfy this need and at very competitive rentals,” he added.

MFT’s chief executive Brent Hailey said the partnership with Augusta Properties offered the Group entry to western Sydney to cater for demand for modern industrial lease properties.

Australian Property Journal