PAYCE Consolidated has completed the $144.5 million acquisition of an 8.7ha industrial site at Melrose Park in western Sydney.
Payce acquired the Wharf Rd site from pharmaceutical giant Pfizer last month, with a leaseback of the whole site for up to five years.
Pfizer has a 30,000 sqm campus style office on the site, which consists a five-level office building, warehouse and 740 bay car park.
At the same time, Payce has entered into joint venture with Sekisui House, boosting the JV’s total control to 25ha, with the potential to rezone the site for a mixed-use master planned residential community.
Australian Property Journal
